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Diana Shipping arranges new $75m loan

Greek dry bulk owner Diana Shipping has sealed a new term loan facility for up to $75m with BNP Paribas.

The loan matures in five years and is secured by seven vessels, the Alcmene, Seattle, Electra, Phaidra, Astarte, G. P. Zafirakis and P. S. Palios.

Diana has used the facility as well as cash on hand to pay off the balance off a $130m credit facility with BNP Paribas maturing in 2020.

The new arrangement sees 17 of the company’s vessels release from mortgages.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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