Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 205

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 205
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 interest rate as of December 31, 2024 was 6.0%. |

| (2) | The interest rate margin of long-term bank debt at December 31, 2024 ranged from 1.60% to 1.65%, and the weighted average interest rate margin as of December 31, 2024 was 1.6%. |

Furthermore, as of March 13, 2025, we have a commitment from a European financial institution for a hunting license loan facility of up to $100 million, subject to final documentation.

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TABLE OF CONTENTS

Covenants and Events of Default Our credit facilities impose certain operating and financial restrictions on us. These restrictions generally

| (1) | limit our ability to, among other things: |

| • | pay dividends if an event of default has occurred and is continuing or would occur as a result of the payment of such dividends; |

| • | allow the vessel-owning subsidiaries to cease being, directly or indirectly, our wholly owned subsidiaries; |

| • | sell or transfer significant assets; or |

| • | allow the Konstantakopoulos family’s direct or indirect holding in us to fall below 30% of the total issued common share capital; and |

| (2) | limit the ability of our applicable financed vessel-owning subsidiaries to, among other things: |

| • | pay dividends if an event of default has occurred and is continuing or would occur as a result of the payment of such dividends; |

| • | sell or transfer any of their assets, unless the relevant financing obligation is prepaid; |

| • | make or repay loans or advances, other than repayment of the credit facilities; |

| • | make investments in other persons; or |

| • | create liens on assets or provide guarantees other than for in the ordinary course of trading. |

The credit facilities also require us and our applicable financed vessel-owning subsidiaries to maintain the aggregate of (a) the market value of the mortgaged vessel or vessels and (b) the market value of any additional security provided to the lenders, above a percentage ranging between 115% to 120% of the then outstanding amount of the credit facility and any related swap exposure. This minimum value covenant must be determined at the expense of the borrower throughout the tenor of the credit facilities. Following the spin-off we will be required to maintain compliance with the following financial covenants to maintain minimum liquidity, minimum market value adjusted net worth and leverage