Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 304

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 304
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June 2024,

the bond

became callable,

and on

July 2,

2024, it was

prepaid
at a price equal to
103.35
% of nominal value, with the proceeds from the new bond discussed below. The
Company

applied

the

debt

modification

guidance

for

the

part

of

the

transaction

refinanced

by

existing
investors

amounting

to

$
57,850
and

the

debt

extinguishment for

the

remaining

$
61,250.

An

amount

of
$
5,336
consisting

of

the

costs

paid

to

investors

who

participated

in

the

refinancing

and

unamortized
deferred fees were deferred

over the term of

the new bond and

an amount of $
3,475
was recorded as loss
on

debt

extinguishment. The

bond included

financial and

other

covenants and

was trading

on the

Oslo
Stock Exchange under the ticker symbol “ DIASH02”.
8.75% Senior Unsecured Bond
:
On July 2, 2024, the Company

issued $
150,000
out of the $
175,000
maximum amount of a new

issue of a
senior unsecured

bond maturing

in July

2029 having

a US Dollar

fixed-rate coupon

of
8.75
% payable

semi-
annually in arrears in January and

July of each year.

The bond is callable in whole or

in part in July 2027
at a

price equal

to
103.50
% of

nominal value;

in January

2028 at

a price

equal to
102.625
% of

nominal
value; in

July 2028

at a

price equal

to
101.75
% and

after January

2029 at

a price

equal to
100.00
%

of
nominal value.

On November

8, 2024,

the Company

issued the

remaining $
25,000
nominal value

of the
bond issue, at
102.00
% of

par value. The

bond ranks ahead

of subordinated capital and

ranks the same
with all