Diana Announces Pricing of US$100 Million Senior Unsecured Bond Offering


Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced the pricing of a US$100 million private placement of senior unsecured bonds maturing in September 2023 and callable beginning three years after issuance.

In addition, the Company may issue up to an additional US$25 million of the bonds on one or more occasions. The bond offering was priced with a U.S. dollar fixed-rate coupon of 9.50%. Interest will be payable semi-annually in arrears in March and September of each year. The Company will apply for listing of the bonds on the Oslo Stock Exchange. The offering is expected to close on September 27, 2018, subject to customary closing conditions.

The net proceeds from the bonds shall be used to redeem all of the Company’s 8.5% Senior Notes due 2020 pursuant to the terms of such notes, in an aggregate principal amount of US$63.25 million, and to prepay other debt of the Company or for general corporate purposes.

Fearnley Securities and Nordea acted as Joint Bookrunners.



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