Diana Inks Loan Facility

Bulker owner and operator Diana Shipping Inc. has signed a five year term loan facility with BNP Paribas for up to USD 165 million.

On July 24, 2015, it completed a drawdown of USD 165 million, secured by the vessels m/v Oceanis, m/v Alcyon, m/v Nirefs, m/v Triton, m/v Dione, m/v Danae, m/v Norfolk, m/v Protefs, m/v Thetis, m/v Erato, m/v Calipso, m/v Clio, m/v Salt Lake City, m/v Naias, m/v Sideris GS, m/v Semirio, m/v Boston and m/v Alcmene.

Diana said that the proceeds from the loan facility together with cash from operations were used to voluntarily prepay in full the balance of USD 195 million of the revolving credit facility with the Royal Bank of Scotland plc.

Diana’s fleet currently consists of 41 dry bulk vessels. The company also expects to take delivery of one new-building Capesize dry bulk vessel during October 2015,  as well as one new-building Kamsarmax and two Newcastlemax dry bulk vessels during 2016.