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Toro Corp. signed a $60.0 million five-year revolving credit facility secured by four vessels for general corporate purposes.
Toro Corp., a global energy transportation services provider operating two LPG carriers and one MR tanker, secured a $60.0 million revolving credit facility from a leading European Financial Institution. The five-year facility, bearing interest at Term SOFR plus a margin, is collateralized by first priority mortgages on four vessels. This financing enhances the Company's liquidity for general corporate purposes, providing flexibility amid its operations transporting petrochemical gases and refined petroleum products worldwide. The announcement underscores Toro's access to European capital markets and supports ongoing fleet operations from its Marshall Islands incorporation base.
Event Type
Disclosure
Voluntary
Variant
6-K
Current Report on Form 6-K
Debt / Financing