DSX - Diana completes drawdown of US$100M loan to refinance existing facilities
2023-04-20 11:00:52 ET
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Dry-bulk transporter Diana Shipping ( NYSE: DSX ) said Thursday it has concluded drawdown of US$100 million from a term loan facility which was signed with Danish Ship Finance A/S last week.
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The proceeds from the loan facility will be mainly used to refinance other outstanding facilities of about US$87 million, which are secured by nine of the company's vessels.
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The term loan will mature in April 2028, the company said.
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The drawdown was also secured by the same nine vessels of the company.
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Diana said the remaining proceeds may be used to pay transaction costs and expenses incurred in connection with the loan agreement and also for general corporate purposes, if needed.
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Diana completes drawdown of US$100M loan to refinance existing facilities