Diana Shipping draws $100 million term loan with Danish Ship Finance

By Marisa Wong

Los Angeles, April 20 – Diana Shipping Inc. announced that on April 12 it signed a term loan facility with Danish Ship Finance A/S for up to $100 million with a maturity date in April 2028.

On Wednesday, the company concluded the drawdown of $100 million, secured by nine vessels, according to a Thursday press release.

Proceeds from the loan refinanced other loan facilities with an aggregate outstanding amount of about $87 million, namely two existing loan facilities with BNP Paribas of roughly $75.2 million maturing in July 2023 and in May 2024 and another loan facility with DNB Bank ASA of about US$11.8 million maturing in March 2024, related to the same nine vessels.

Remaining proceeds may be used to pay transaction costs and expenses incurred in connection with the loan agreement or for general corporate purposes.

Diana is an Athens-based global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels.

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