ATHENS: NYSE-listed Diana Shipping has secured a five-year $165m loan facility from BNP Paribas, which it has used to pay off outstanding debt.
The company drew down the full $165m from the facility on July 24, having signed the deal with the bank on July 22. The loan has been secured against 18 of Diana’s 41 vessels: Oceanis, Alcyon, Nirefs, Triton, Dione, Danae, Norfolk, Protefs, Thetis, Erato, Calipso, Clio, Salt Lake City, Naias, Sideris GS, Semirio, Boston and Alcmene.
Diana said the proceeds from the loan facility, together with cash from operations, have been used to voluntarily prepay the full $195m balance of its revolving credit facility with the Royal Bank of Scotland.
