Toro Corp. secures $60M revolving credit facility
#Toro Corp. #revolving credit #$60 million #financing #liquidity
📌 Key Takeaways
- Toro Corp. has secured a $60 million revolving credit facility.
- The facility provides flexible access to capital for operational or strategic needs.
- It enhances the company's liquidity and financial flexibility.
- The credit facility supports Toro Corp.'s ongoing business activities.
🏷️ Themes
Corporate Finance, Credit Facility
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil flirts with $110/bbl after Trump signals Iran war escalation Trump says US to hit Iran ‘extremely hard’ in next 2-3 weeks Gold snaps 4-day rally after Trump vows to step up Iran strikes Wall Street slides at the open as Iran de-escalation hopes deteriorate (South Africa Philippines Nigeria) Toro Corp. secures $60M revolving credit facility By Company News Published 04/02/2026, 09:24 AM Toro Corp. secures $60M revolving credit facility 0 TORO 2.75% LIMASSOL, Cyprus - Toro Corp. (NASDAQ:TORO) has signed a $60 million revolving credit facility with a European financial institution, according to a press release statement issued today. The facility has a five-year term and carries an interest rate of Term SOFR plus a margin. The credit line will be secured by first priority mortgages on four of the company’s vessels. The company maintains a solid financial position, holding more cash than debt on its balance sheet with a current ratio of 5.94. Toro Corp. stated the proceeds will be used for general corporate purposes. The company operates a fleet of oceangoing vessels that includes two LPG carriers and one MR tanker vessel. The vessels transport petrochemical gases and refined petroleum products globally. Despite recent challenges, TORO shares have surged 215% over the past year. However, InvestingPro analysis suggests the stock is currently overvalued relative to its Fair Value, with 10 additional ProTips available to subscribers. Toro Corp. is incorporated in the Republic of the Marshall Islands and trades on the Nasdaq Capital Market. In other recent news, Toro Corp. has announced the completion of its special dividend payment, which was previously declared by the company’s Board of Directors. The dividend amounted to $1.75 per common share and was distributed as a mix of cash and company stock. The company paid approximately $9.3 million in cash and issued 7,378,575 new common shares to fulfill this divide...
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