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.
