Diana Shipping Inc., a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, announced that on June 26, 2023, it signed a term loan facility with DNB Bank ASA for up to US$100 million with maturity date up to December 2029, subject to mutually agreed margin reset at the end of the fourth year. Yesterday, it concluded the drawdown of US$100 million, secured by ten vessels. The proceeds from the loan facility refinanced other loan facilities with an aggregate outstanding amount of approximately US$68.7 million, namely two existing loan facilities with ABN AMRO Bank N.V. of approximately US$31.4 million and of approximately US$37.3 million (maturity dates in June 2024 and in May 2026) related to the same ten vessels. The remaining proceeds may be used to pay transaction costs and expenses incurred in connection with the loan agreement and/or general corporate purposes.
On June 20, 2023, The Company also signed a term loan facility with Nordea Bank Abp, filial i Norge for up to US$22.5 million with maturity date in June 2028. On June 27, 2023, it concluded the drawdown of US$22.5 million, secured by four vessels. The proceeds from the loan facility refinanced the existing loan facility with an outstanding amount of approximately US$20.9 million, with Nordea Bank Abp, filial i Norge (maturity date in March 2024) related to the same four vessels. The remaining proceeds may be used to pay transaction costs and expenses incurred in connection with the loan agreement and/or general corporate purposes.
Diana Shipping Inc.’s fleet currently consists of 42 dry bulk vessels: 4 Newcastlemax, 10 Capesize, 5 Post-Panamax, 6 Kamsarmax, 7 Panamax and 10 Ultramax (including a partial interest through a joint venture arrangement in one Ultramax). As of today, the combined carrying capacity of the Company’s fleet, is approximately 4.7 million dwt with a weighted average age of 10.19 years.
