Brief: 2020 Bulkers Agreed To Enter Into Sale And Lease Back Arrangement With Ocean Yield

2020 Bulkers

15/10/2019 19:11

Oct 15 (Reuters) - 2020 Bulkers Ltd  2020B.OL :
    * 2020 BULKERS - AGREED TO ENTER INTO SALE AND LEASE BACK
ARRANGEMENT WITH OCEAN YIELD FOR ITS TWO NEWCASTLEMAX VESSELS,
BULK SEOUL AND BULK SHANGHAI
    * 2020 BULKERS-FINANCING WILL REPLACE ORIGINAL USD 30
MILLION
FINANCING PER VESSEL & IS EXPECTED TO INCREASE CO'S LIQUIDITY BY
ABOUT USD 21 MILLION UPON CLOSING
    * VESSELS ARE EXPECTED TO BE DELIVERED FROM YARD ON 30
OCTOBER AND
6 NOVEMBER, RESPECTIVELY
    * COMPANY EXPECTS AN AVERAGE CASH BREAKEVEN LEVEL OF USD
14,100
PER VESSEL PER OPERATING DAY FOR 2020
    * EXPECTS TO DECLARE ITS FIRST MONTHLY DIVIDEND PAYMENT IN
NOVEMBER 2019
    * 2020 BULKERS - BOARD SEE STRONG POSSIBILITY TO RETURN
SIGNIFICANT PART OF CURRENT MARKET CAPITALIZATION TO
SHAREHOLDERS OVER COMING TWO TO THREE YEARS
    * 2020 BULKERS - SCHEDULED TO HAVE 2 FURTHER NEWBUILDINGS
DELIVERED IN JAN 2020, WITH LAST 2 NEWBUILDINGS EXPECTED TO BE
DELIVERED IN APRIL & MAY 2020

Source text for Eikon:  ID:nWkr1cXbxC 
Further company coverage:  2020B.OL 

 ((Reuters.Briefs@thomsonreuters.com;))