Diana engages financial advisors to amend its outstanding loan facilities with certain of its lenders

Company Profiles, Dry Bulkcarriers, Markets, News, Shipfinance, Stock Markets — By on August 26, 2016 at 2:27 PM

sideris GS FUNNELDIANA SHIPPING INC. ANNOUNCES THAT IT HAS ENGAGED FINANCIAL ADVISORS TO NEGOTIATE AMENDMENTS TO CERTAIN OF ITS LOAN FACILITIES AND THE DEFERRAL OF CERTAIN AMORTIZATION PAYMENTS 

ATHENS, GREECE, August 26, 2016 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has engaged financial advisors and has entered into negotiations with certain of its lenders to amend its outstanding loan facilities. In connection with these negotiations, the Company has reached an agreement in principle with certain lenders, including the Company’s largest lender, for terms that include, among other provisions, the deferral of amortization payments and amending financial covenants. This agreement in principle is subject to the Company reaching similar deferral and covenant terms with its other lenders. In support of its negotiations with lenders, the Company is currently deferring certain amortization payments under its credit facilities. While the Company is in ongoing negotiations with its lenders, it has not obtained formal waivers from any lender regarding payment deferrals or amendments to financial covenants.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Tags:

Leave a Reply

IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)

What is 4 + 12 ?
Please leave these two fields as-is:

Trackbacks

Leave a Trackback