NewLead Holdings Ltd. announces signing of term sheet for 75% financing for two eco-type Handysize dry bulk vessels Friday, Feb 14, 2014
PIRAEUS, Greece, Feb. 13, 2014 /PRNewswire/ -- NewLead Holdings Ltd. (NASDAQ: NEWL) ("NewLead" or the "Company") announced today that it has signed a term sheet with a leading financial institution to provide 75% debt financing for two eco-type 31,800 dwt, 2012-built Handysize vessels for a total of $37.0 million. The two vessels are expected to be delivered to NewLead's fleet within the next three months.
Mr. Michael Zolotas, Chairman and Chief Executive Officer of NewLead, stated, "We are pleased to achieve the next milestone in the transformation of NewLead. We are focused on developing scale in our fleet. The financing deal announced today illustrates third party belief in our company."
About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international, vertically integrated shipping and commodity company that manages product tankers and dry bulk vessels. NewLead currently owns three dry bulk vessels, which includes one newbuilding. NewLead owns a wash plant and a mine, the Viking mine in Kentucky, USA. NewLead's common shares are traded under the symbol "NEWL" on the NASDAQ Global Select Market.
