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Lowering the Bridge

Baltic Trading Limited filed this week a preliminary registration form to sell up to $126.5 million of common equity in a follow-on offering. As promised, the proceeds will be used to repay borrowings under the credit facility which were used to finance the three vessels acquired from Metrostar ($99.8 million), with the balance to be used for working capital and general corporate purposes. We will report next week on this transaction’s progress.

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Written by: | Categories: Freshly Minted, The Week in Review | August 12th, 2010 |

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