Pelagic Credit Executes US$ 47.4 Million Sale-and-Leaseback Investment for Three Bulk Carriers with Seven-Year Firm Bareboat Charter

Pelagic Partners, through Pelagic Credit Plc, is pleased to announce that it has entered into definitive agreements for a sale-and-leaseback investment comprising three handysize bulk carriers, with an aggregate transaction value of US$ 47.4 million.

The investment represents Pelagic Credit’s first transaction in the dry bulk sector, further diversifying the Company’s portfolio while expanding its exposure to long term contracted cash flows supported by high quality counterparties. The transaction is expected to deliver attractive risk adjusted returns consistent with the Company’s investment criteria while supporting the Company’s ability to generate stable distributable cash flows in line with its quarterly dividend policy.

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