Costamare (CMRE) Lowers Quarterly Dividend 65.5% to $0.10; Enters New Financing Arrangements
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Costamare Inc. Announces New Financing Arrangements and Dividend Adjustment
October 4, 2016 8:15 AM EDTMONACO -- (Marketwired) -- 10/04/16 -- Costamare Inc. ("Costamare" or the "Company") (NYSE: CMRE) announced today the following:
(A) New Financing Arrangements
1. In August 2016, we entered into a loan agreement with a leading European financial institution for the financing of the third and fourth 11,000 TEU vessels on order, acquired under our JV with York Capital. The facility is for an amount of up to US $ 87 million which will be repayable over 3 years. The proceeds are expected to finance the remaining yard installments for the two... More
