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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2014
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

 

28 - SUBSEQUENT EVENTS

 

On January 2, 2015, Baltic Trading took delivery of the Baltic Wasp, a 63,389 dwt Ultramax newbuilding from Yangfan Group Co., Ltd.  Baltic Trading utilized cash on hand and $16,350 of proceeds from the 2014 Baltic Trading Term Loan Facilities to pay the remaining balance of $19,400 for the Baltic Wasp.

 

On February 27, 2015, Baltic Trading drew down $10,500 under the working capital line of the Baltic Trading $148 Million Credit Facility.  This amount represents the remaining availability under the $115,000 revolving credit facility.

 

Refer to Note 10 — Debt for discussion on collateral short-fall for  the $100 Million Term Loan Facility and the $253 Million Term Facility.