Toro Corp. announced that the $100 million senior term loan facility it granted to Castor Maritime Inc. in December 2024 was fully repaid on May 5, 2025. This repayment enhances Toro's cash reserves and financial flexibility.
The original loan, which had a tenor of 5 years and bore interest at SOFR plus 1.80% per annum, was secured by 10 vessels owned by Castor Maritime Inc. Its full repayment within five months demonstrates Castor's financial capacity.
Following this event, Toro Corp.'s fleet currently consists of four LPG carriers. The increased cash on hand positions the company to pursue its fleet modernization and capital allocation strategies.
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