Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 203

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 203
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 vessels Enna, Doradoand Aryaand (iii) an advance payment for the acquisition of the secondhand dry bulk vessel Iron Miracle(“ Miracle”); partly offset by net proceeds we received from the sale of the dry bulk vessels Miner, Taibo, Comity, Peace, Prideand Cetus.

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Net Cash Provided by Financing Activities Net cash provided by financing activities was $116.9 million in the year ended December 31, 2024, which mainly consisted of (i) net parent contributions of $43.5 million and (ii) net proceeds of $85 million we received from related parties loans; partly offset by net payments of $9.5 million relating to our debt financing agreements (including proceeds of $393.0 million we received from four debt financing agreements). Net cash provided by financing activities was $133.3 million in the year ended December 31, 2023, which mainly consisted of (i) $103.8 million share capital increase from CBI’s shareholders and (ii) net parent contributions of $75.4 million; partly offset by net payments of $39.4 million relating to our debt financing agreements (including proceeds of $105.2 million we received from three debt financing agreements). Credit Facilities We operate in a capital-intensive industry, which requires significant amounts of investment, and we intend to fund a portion of this investment through long-term debt, mainly from banks or other financial institutions. In connection with the spin-off, in December 2024 we entered into new credit facilities (the “New Credit Facilities”) secured by 36 of our owned vessels. Our vessel-owning subsidiaries act as direct borrowers under the New Credit Facilities, and, prior to the spin-off, Costamare Inc. acts as a guarantor under the New Credit Facilities. At the effective time of the spin-off, Costamare Bulkers Holdings and Costamare Bulkers Ships will become guarantors under the New Credit Facilities and Costamare Inc. shall be unconditionally released from its obligations as guarantor under the New Credit Facilities. The obligations under the New Credit Facilities are secured by, among other things, first priority mortgages over the vessels owned by the respective subsidiaries, charter assignments, first priority assignments of all insurances and earnings of the mortgaged vessels and guarantees by Costamare Inc. prior to the spin-off and Costamare Bulkers Holdings and Costamare Bulkers Ships following the spin-off. As of December 31,