Diana Shipping Refinances Loans with $167.3M Facility
Ticker: DSX-WT · Form: 6-K · Filed: Jul 26, 2024 · CIK: 1318885
Sentiment: neutral
Topics: debt-refinancing, loan-facility, financing
TL;DR
Diana Shipping just locked in a $167.3M loan from Nordea Bank to pay off old debt. Good move for their balance sheet.
AI Summary
Diana Shipping Inc. announced on July 26, 2024, that it has signed and drawn down a US$167.3 million term loan facility with Nordea Bank. This new facility will be used to refinance two existing loan facilities.
Why It Matters
This refinancing could improve the company's debt structure and potentially lower its borrowing costs, impacting its financial flexibility.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a debt refinancing, which is a common and generally low-risk financial activity for a company.
Key Numbers
- US$167.3 million — Term Loan Facility (Amount secured to refinance existing debt)
Key Players & Entities
- Diana Shipping Inc. (company) — Registrant
- Nordea Bank (company) — Lender
- US$167.3 million (dollar_amount) — Term loan facility amount
- July 26, 2024 (date) — Announcement date
FAQ
What is the purpose of the new term loan facility?
The new US$167.3 million term loan facility with Nordea Bank is intended to refinance two existing loan facilities.
Who is the lender for the new term loan facility?
The lender for the new term loan facility is Nordea Bank.
When was the press release announcing this transaction dated?
The press release announcing the signing and drawdown of the term loan facility was dated July 26, 2024.
What is the principal executive office of Diana Shipping Inc.?
The principal executive office of Diana Shipping Inc. is located at Pendelis 16, 175 64 Palaio Faliro, Athens, Greece.
Which registration statements does this Form 6-K filing incorporate information into?
This Form 6-K filing incorporates information into the Company's registration statements on Form F-3 (File Nos. 333-256791 and 333-266999).
Filing Stats: 1,065 words · 4 min read · ~4 pages · Grade level 13.7 · Accepted 2024-07-26 16:14:37
Key Financial Figures
- $167.3 million — ouncing the signing and drawdown of a US$167.3 million term loan facility with Nordea Bank to
- $167.3 MILLION — ANNOUNCES SIGNING AND DRAWDOWN OF A US$167.3 MILLION TERM LOAN FACILITY WITH NORDEA BANK TO
- $149.3 million — dea Bank Abp, filial i Norge: one for US$149.3 million and the other for US$18.0 million, orig
- $18.0 m — or US$149.3 million and the other for US$18.0 million, originally maturing in October 2
Filing Documents
- d11426948_6k.htm (6-K) — 25KB
- 0000919574-24-004149.txt ( ) — 26KB
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: July 26, 2024 By: /s/ Anastassis Margaronis Anastassis 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 SIGNING AND DRAWDOWN OF A US$167.3 MILLION TERM LOAN FACILITY WITH NORDEA BANK TO REFINANCE TWO EXISTING TERM LOAN FACILITIES WITH NORDEA ATHENS, GREECE, July 26, 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 successful signing of a US$167.3 million six-year secured term loan facility with Nordea Bank Abp, filial i Norge on July 25, 2024. The full amount was drawn down immediately. The new loan maturing in July 2030 is secured by ten vessels. The proceeds have been utilized to refinance two of the Company's existing loan facilities with Nordea Bank Abp, filial i Norge: one for US$149.3 million and the other for US$18.0 million, originally maturing in October 2027 and June 2028, respectively. These loans were previously secured by twelve vessels. As part of this refinancing, two of the Company's mortgaged vessels have been released. This strategic financial move underscores the Company's commitment to optimizing its capital structure and enhancing operational flexibility. Upon completion of the previously announced sale of m/v Houston , Diana Shipping Inc.'s fleet will consist of 38 dry