Costamare Inc. has announced the execution of two new loan agreements for an aggregate amount of $140 million, which brings the refinancing program initiated at the beginning of the year to a successful conclusion. Since January, the company has entered into new financing transactions of over $435 million and has extended debt maturities of about $240 million.

Gregory Zikos, Chief Financial Officer of the company said: “The latest transactions form part of our strategy of proactively managing our balance sheet and liquidity position, ensuring a smooth debt repayment profile. As a result of the latest financing arrangements we have no meaningful debt maturities until 2024.” 

Monaco-based Costamare Inc. is one of the world’s leading owners and providers of containerships for charter. The company has 46 years of history in the international shipping industry and a fleet of 75 containerships, with a total capacity of approximately 538,000 TEU, including five newbuild containerships currently under construction.