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Diana Shipping signs $165m loan from BNP Paribas

Athens: NYSE-listed Diana Shipping has secured a five-year $165m loan facility from BNP Paribas, which it has used to pay off outstanding debt.

The company drew down the full $165m from the facility on July 24, having signed the deal with the bank on July 22.

The loan has been secured against 18 of Diana’s 41 vessels: Oceanis, Alcyon, Nirefs, Triton, Dione, Danae, Norfolk, Protefs, Thetis, Erato, Calipso, Clio, Salt Lake City, Naias, Sideris GS, Semirio, Boston and Alcmene.

Diana said the proceeds from the loan facility, together with cash from operations, have been used to voluntarily prepay the full $195m balance of its revolving credit facility with the Royal Bank of Scotland.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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