TBS Increases Liquidity through Bank of America Facility Amendment.

TBS International this week amended and restated its existing Bank of America facility dating back to the sum­mer of 2006. They increased the deal from $140 million (of which $65m was revolving and $75m was in a term loan) to $267.5 million (of which $125m is revolving and $142.5m is a term loan). TBS will initially draw down the full $142.5 million available under the term facility to pay outstanding principal and interest due on its existing facil­ity, pay closing costs and for general corporate purposes.

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