Diana Shipping has secured a new loan to back the acquisition of nine modern ultramax dry bulk vessels.
The New York-listed Greek bulker owner has taken $200m from Nordea Bank which will be directed to partially finance the $330m deal the company struck in August to take over the entire fleet of Stamford-based Sea Trade Holdings.
The acquisition includes $220m in cash and another $110m to be paid in the form of close to 18.5m in newly issued common shares of the company, at a price of $5.95 per share.
The vessels, built between 2015 and 2018 in Japan, will deliver during the fourth quarter of 2022, taking Diana Shipping’s fleet to 43.
