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Diana Shipping Inc. Announces Signing and Drawdown of a US$75 Million Term Loan Facility with BNP Paribas

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that on July 13, 2018, it signed a term loan facility with BNP Paribas for up to US$75 million with maturity date on July 16, 2023. Yesterday, it completed a drawdown of US$75 million, secured by the vessels m/v Alcmene, m/v Seattle, m/v Electra, m/v Phaidra, m/v Astarte, m/v G. P. Zafirakis and m/v P. S. Palios. The proceeds from the loan facility together with available cash were used to voluntarily prepay in full the balance of US$130 million of the existing credit facility with BNP Paribas which had maturity date on July 24, 2020. The new loan facility has resulted in the release of mortgages on 17 of the Company’s vessels.

Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax). As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.90 years.
Source: Diana Shipping Inc.

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