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Diana Shipping closes US$100 million senior unsecured bond offering

Published by , Assistant Editor
Dry Bulk,

Yesterday, Diana Shipping Inc. (Diana Shipping), a global shipping company specialising in the ownership of dry bulk vessels, closed its previously announced US$100 million private placement of senior unsecured bonds maturing in September 2023. The company is also planning on exercising its option to redeem all of its outstanding 8.5% Senior Notes due 2020 (CUSIP No. Y2066G120), of which an aggregate principal amount of approximately US$63.25 million is currently outstanding.

The redemption date is to be 29 October 2018. The redemption price will be 100% of the principal amount of the Notes, or US$25.00 per Note, plus accrued and unpaid interest to, but excluding, the date of redemption. Following the redemption, the Notes will be delisted from the New York Stock Exchange.

According to Diana Shipping, payment of the redemption price and surrender of the Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company. The name and address of the paying agent are Deutsche Bank Trust Company Americas, 60 Wall Street, New York, NY 10005.

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