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

26 Jul 2024 16:14 CEST

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 bulk vessels: 4 Newcastlemax, 8 Capesize, 5
Post-Panamax, 6 Kamsarmax, 6 Panamax and 9 Ultramax. The Company also expects to
take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels
by the second half of 2027 and the first half of 2028, respectively. As of
today, the combined carrying capacity of the Company’s fleet including the m/v
Houston and excluding the two vessels not yet delivered, is approximately 4.4
million dwt with a weighted average age of 10.98 years. A table describing the
current Diana Shipping Inc. fleet can be found on the Company’s website,
www.dianashippinginc.com. Information contained on the Company’s website does
not constitute a part of this press release...

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