Eagle Bulk Shipping Inc. (NASDAQ:EGLE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.Entry into a Material Definitive Agreement

On December 29, 2017, Eagle Bulk Ultraco LLC (“Ultraco”), a wholly-owned subsidiary of Eagle Bulk Shipping Inc., entered into a First Amendment (the “First Amendment”) to that certain Credit Agreement (as amended from time to time, the “Credit Agreement”), by and among Ultraco, as borrower, certain wholly-owned vessel-owning subsidiaries of Ultraco, as guarantors, the lenders thereunder (the “Lenders”), the swap banks party thereto, ABN AMRO Capital USA LLC, as facility agent and security trustee for the Lenders, ABN AMRO Capital USA LLC, DVB Bank SE and Skandinaviska Enskilda Banken AB (publ), as mandated lead arrangers, and ABN AMRO Capital USA LLC, as arranger and bookrunner.

Upon the satisfaction of certain conditions, the First Amendment will, among other things, increase the commitments to Section 2.21 of the Credit Agreement for the purpose of financing the acquisition of an additional vessel by New London Eagle LLC, a wholly-owned subsidiary of Ultraco and additional guarantor under the Credit Agreement. The increase in the commitments will be equal to the lesser of (a) $8,600,000 and (b) 40% of the fair market value of the additional vessel acquired by New London Eagle LLC.

Item 2.03.Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information provided in Item 1.01 above is incorporated herein by reference.