Diana Shipping Prices $150M Unsecured Bond Offering
Ticker: DSX-WT · Form: 6-K · Filed: Jun 20, 2024 · CIK: 1318885
Sentiment: neutral
Topics: debt-offering, financing, bonds
TL;DR
Diana Shipping just priced a $150M bond offering. Good for cash flow.
AI Summary
Diana Shipping Inc. announced on June 18, 2024, the pricing of its US$150 million senior unsecured bond offering. This offering is incorporated by reference into the company's existing registration statements on Form F-3.
Why It Matters
This bond offering provides Diana Shipping with capital, potentially for fleet expansion, debt repayment, or general corporate purposes, impacting its financial flexibility.
Risk Assessment
Risk Level: medium — Bond offerings can indicate a need for capital, which may stem from operational challenges or expansion plans that carry inherent financial risks.
Key Numbers
- $150M — Bond Offering (Amount raised by Diana Shipping Inc. through its senior unsecured bond offering.)
Key Players & Entities
- Diana Shipping Inc. (company) — Issuer of the bond offering
- US$150 million (dollar_amount) — Principal amount of the senior unsecured bond offering
- June 18, 2024 (date) — Date of the press release announcing the bond pricing
- Form F-3 (document) — Registration statements into which the offering is incorporated
FAQ
What is the purpose of the US$150 million senior unsecured bond offering?
The filing does not explicitly state the purpose of the bond offering, but it is incorporated into registration statements on Form F-3, which are typically used for general corporate purposes or to raise capital for various business needs.
When was the pricing of the bond offering announced?
The pricing of the bond offering was announced in a press release dated June 18, 2024.
What type of debt instrument is Diana Shipping Inc. issuing?
Diana Shipping Inc. is issuing senior unsecured bonds.
Which registration statements does this Form 6-K filing incorporate the bond offering into?
This Form 6-K filing incorporates the bond offering into Diana Shipping Inc.'s registration statements on Form F-3, File Nos. 333-256791 and 333-266999.
What is the principal executive office address of Diana Shipping Inc.?
The principal executive office address of Diana Shipping Inc. is Pendelis 16, 175 64 Palaio Faliro, Athens, Greece.
Filing Stats: 1,016 words · 4 min read · ~3 pages · Grade level 15.5 · Accepted 2024-06-20 09:09:14
Key Financial Figures
- $150 million — nouncing the pricing of the Company's US$150 million senior unsecured bond offering. The in
- $150 MILLION — NA SHIPPING INC. ANNOUNCES PRICING OF US$150 MILLION SENIOR UNSECURED BOND OFFERING ATHENS,
- $125 million — finance all of the Company's existing US$125 million senior unsecured bond due 2026 with ISI
Filing Documents
- d11076778_6-k.htm (6-K) — 23KB
- 0000919574-24-003749.txt ( ) — 24KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. DIANA SHIPPING INC. (registrant) Dated: June 20, 2024 By: /s/ Anastasios Margaronis Anastasios Margaronis President Exhibit 99.1 Corporate Contact: Ioannis Zafirakis Director, Chief Financial Officer, Chief Strategy Officer, Treasurer and Secretary Telephone: + 30-210-9470-100 Email: izafirakis@dianashippinginc.com Website: www.dianashippinginc.com X: @Dianaship For Immediate Release Investor and Media Relations: Edward Nebb Comm-Counsellors, LLC Telephone: + 1-203-972-8350 Email: enebb@optonline.net DIANA SHIPPING INC. ANNOUNCES PRICING OF US$150 MILLION SENIOR UNSECURED BOND OFFERING ATHENS, GREECE, June 18, 2024 – Diana Shipping Inc. (NYSE: DSX), (the "Company"), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the pricing of a US$150 million private placement of senior unsecured bonds maturing in July 2029 and callable beginning three years after issuance. The bond offering was priced with a U.S. dollar fixed-rate coupon of 8.75%. Interest will be payable semi-annually in arrears in January and July of each year. The Company will apply for listing of the bonds on the Oslo Stock Exchange. The offering is expected to close on July 2, 2024, subject to customary closing conditions. The net proceeds from the bonds shall be used to refinance all of the Company's existing US$125 million senior unsecured bond due 2026 with ISIN NO0011021974 ("DIASH02"), and for general corporate purposes. Important Information The bonds offered as described in this press release have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States or other jurisdiction, and may not be offered or so