Star Bulk Carriers (SBLK) Posts Mixed Q2 Results; Enters Debt Repayment Deferral

September 14, 2016 4:08 PM EDT
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Star Bulk Carriers (NASDAQ: SBLK) reported Q2 EPS of ($0.69), $0.03 worse than the analyst estimate of ($0.66). Revenue for the quarter came in at $52.65 million versus the consensus estimate of $41.26 million.

As of August 31, 2016 we have entered into Restructuring Letter Agreements (the "RLAs") with all 15 banks and export credit agencies (the "Lenders") providing our senior secured credit facilities, to waive 100% of the principal repayments for 25 months, for the period commencing June 1st 2016 and ending June 30th 2018 and waive or substantially relax financial covenants until December 31st 2019. The agreements are subject to certain conditions precedent, including an equity raise of not less than $50.0 million of net proceeds to be completed by September 30th 2016.

For earnings history and earnings-related data on Star Bulk Carriers (SBLK) click here.

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