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Diana Shipping and BNP Paribas sign term loan facility

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Dry Bulk,

On 16 July, Diana Shipping Inc. – a global shipping company specialising in the ownership of dry bulk vessels – announced that on 13 July 2018, it signed a term loan facility with BNP Paribas for up to US$75 million with maturity date on 16 July 2023.

On 16 July, the company 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 24 July 2020. The new loan facility has resulted in the release of mortgages on 17 of the company’s vessels.

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