Diana Pens Loan Deal with Nordea Bank

Dry bulk shipping company Diana Shipping Inc. has inked a term loan facility with Nordea Bank AB, London Branch.

Yesterday, through eight wholly-owned subsidiaries, it completed a drawdown of USD 93.08 million, secured by the vessels m/v Leto, m/v Melia, m/v Polymnia, m/v Amphitrite, m/v Aliki, m/v Coronis, m/v Baltimore and m/v Myrsini.

The company said it would use the proceeds for the re-financing of m/v Leto, m/v Melia, m/v Polymnia and m/v Amphitrite and their existing indebtedness of USD 38.3 million, and for general corporate and working capital purposes.

Diana ’s fleet currently consists of 40 dry bulk vessels. The company also expects to take delivery of two new-building Newcastlemax dry bulk vessels and one new-building Kamsarmax dry bulk vessel during the second quarter of 2016.

The company’s combined carrying capacity, excluding the three vessels not yet delivered, is approximately 4.6 million dwt with a weighted average age of 6.98 years.

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