Athens-based dry bulk shipowner Diana Shipping closed its previously-announced USD 100 million private placement of senior unsecured bonds maturing in September 2023.
The bond offering was priced with a US dollar fixed-rate coupon of 9.50%. Diana Shipping earlier said that it may issue up to USD 25 million of further bonds on one or more occasions.
Interest will be payable semi-annually in arrears in March and September of each year, the company said, adding that it will apply for listing of the bonds on the Oslo Stock Exchange.
Additionally, the company informed that it is exercising its option to redeem all of its outstanding 8.50% Senior Notes due 2020, of which an aggregate principal amount of around USD 63.25 million is currently outstanding.
Diana Shipping said that the redemption date will be October 29, 2018. The redemption price will be 100% of the principal amount of the notes, or USD 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.