Eagle Bulk (EGLE) Strongly Higher Following Credit Amendments

June 21, 2012 9:19 AM EDT
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Eagle Bulk Shipping (Nasdaq: EGLE) shares are indicated for a much higher open Thursday following news it entered into an amendment with a syndicate of lenders over more favorable credit terms and requirements.

The stock looks to be above 20 percent higher in early trading, as shares look to get back to the $9 to $10 level they were at in February and March.

Implied volatility was lower heading into the amended terms.

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