NewLead Holdings Ltd. (NEWL) on Thursday said that the company entered into an agreement with Piraeus Bank S.A. to proceed with the sale of the two tanker vessels, Hiona and Hiotissa, for an aggregate amount of $57.0 million and to convert $18.1 million debt into 22.1 million shares of NewLead's common stock.
As a result of this deal, NewLead will be released from all obligations under the Piraeus Bank credit facility. These transactions are expected to occur in the third quarter and are subject to certain conditions.
NewLead is currently discussing a similar arrangement with Lemissoler Maritime Company W.L.L.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.