Baltic Trading Limited, a dry bulk company focused on the spot market, announced that it executed a credit agreement and other definitive documentation for a USD 100 million senior secured revolving credit facility.

The company had previously announced the bank commitment for this credit facility, underwritten by Nordea Bank Finland plc, in the Registration Statement on Form S-1 for its initial public offering. Under the terms of the four year facility, amounts borrowed will bear interest at LIBOR plus a margin of 3.25%.

The company expects to use the facility primarily as bridge financing for future vessel acquisitions. Borrowings of up to USD 25 million will be available for working capital purposes.

Mr John C Wobensmith president & CFO of Baltic Trading Limited said that "We are pleased to enter into a USD 100 million credit facility. Consistent with our strategy, this facility strengthens management's ability to capitalize on future growth opportunities in a quick and decisive manner while maintaining a low debt structure. As we seek to further expand our high quality fleet, we will remain disciplined in our approach by adhering to a strict set of return criteria."