Diana Shipping engages financial advisors to negotiate amendments to certain of its loan facilities
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has engaged financial advisors and has entered into negotiations with certain of its lenders to amend its outstanding loan facilities, the company said in its press release.
In connection with these negotiations, Diana Shipping has reached an agreement in principle with certain lenders, including Diana Shipping’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 Diana Shipping reaching similar deferral and covenant terms with its other lenders. In support of its negotiations with lenders, Diana Shipping is currently deferring certain amortization payments under its credit facilities. While Diana Shipping 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 Diana Shipping
Diana Shipping Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels. Diana Shipping’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.
