Globus Maritime Announces a Sale and Bareboat Back Transaction for its Vessel GLBS Magic
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Globus Maritime Limited has completed a $25 million sale and bareboat back transaction for its vessel GLBS Magic. The company sold the vessel to a Japanese third party and chartered it back with a structured payment plan and buyback options.
December 30, 2024 | 9:30 pm
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Globus Maritime Limited has executed a strategic financial transaction involving the sale and bareboat charter back of its vessel GLBS Magic for $25 million. This deal provides immediate liquidity while allowing continued use of the vessel with structured payments and buyback options.
The transaction provides Globus Maritime with immediate liquidity of $25 million, which can be used for other investments or debt reduction. The structured payment plan and buyback options allow the company to maintain operational flexibility and potentially regain ownership of the vessel. This strategic move is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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