Diana Shipping, BNP Paribas Pact for Five Year Loan Facility
By Aiswarya Lakshmi
June 27, 2018
Diana Shipping announced that on June 20, 2018, it signed a term sheet with the French bank BNP Paribas for a five year loan facility of up to US$75 million, subject to loan documentation.
The global shipping company specializing in the ownership of dry bulk vessels said that the proceeds from the loan facility together with available cash will be used to voluntarily prepay in full the balance of US$130 million of the existing credit facility with BNP Paribas.
The new loan facility will result in 17 of the Company’s vessels being unencumbered, Diana Shipping said.
Diana Shipping Inc.’s fleet currently consists of 50 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 22 Panamax).
As of today, the combined carrying capacity of the Company’s fleet is approximately 5.8 million dwt with a weighted average age of 8.84 years.
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