Toro Corp. (NASDAQ: TORO), (“Toro” or the “Company”), a global energy transportation services provider, announced the signing of a $60.0 million revolving credit facility (the “Facility”) with a leading European Financial Institution.

The Facility has a tenor of five years, bears interest at a rate of Term SOFR plus a margin, and will be secured by, among others, a first priority mortgage over four of the Company’s vessels. The net proceeds from the Facility are expected to be used for general corporate purposes.

Toro Corp.press release