Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 317

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 317
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 their inception. The time value has been excluded from the assessment of hedge effectiveness and is being recognized in earnings using a systematic and rational method over the duration of the respective interest rate caps. Changes in the fair value of the interest rate caps are reported within the predecessor combined carve-out statements of comprehensive income/ loss. The interest rate caps originally matured during the period from 2026 to 2027.

During the year ended December 31, 2024, the Company terminated the interest rate caps related to the loans discussed in Notes 7.1, 7.3, 7.4 and 7.9 and received the aggregate amount of $4,694, which is included in Gain / (Loss) on derivative instruments, net in the accompanying 2024 predecessor combined carve-out statement of operations.

During the year ended December 31, 2023, the Company terminated the interest rate caps related to the loans discussed in Notes 7.1, 7.2, 7.3 and 7.5 and received the aggregate amount of $5,960, which is included in Gain / (Loss) on derivative instruments, net in the accompanying 2023 predecessor combined carve-out statement of operations.

As of December 31, 2024, the Company did not hold any interest rate caps.

As of December 31, 2023, the Company had interest rate cap agreements with an outstanding notional amount of $185,403. The fair value of these derivatives outstanding as of December 31, 2023 amounted to an asset of $7,944 and these are included in the accompanying predecessor combined carve-out balance sheets. The maturity of these derivatives ranged between July 2026 and January 2027.

(b) Interest rate caps that do not meet the criteria for hedge accounting: As of December 31, 2023 and 2024, the Company did not hold any interest rate caps that do not qualify for hedge accounting.

(c) Forward Freight Agreements (“FFAs”), Bunker swap agreements and EUA futures: As of December 31, 2023 and 2024, the Company had a series of bunker swap agreements, none of which qualify for hedge accounting. The fair value of these derivatives outstanding as of December 31, 2023 and 2024 amounted to a net liability of $2,510 and a net liability of $447, respectively.

As of December 31, 2024, the Company had a series of EUA futures, none