Company: DSX-PB
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001562762-25-000050
Chunk: 307

Company: DIANA SHIPPING INC.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 307
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refinance

the

outstanding

balance

of

the

two

loans

mentioned

above.

The

loan

is

repayable

in

equal
quarterly instalments of $
4,454
and a balloon instalment of $
64,827
payable on
July 25, 2030.
Export-Import Bank of China:
On January 4,

2017, the Company drew

down $
57,240
under a secured
loan

agreement,

which

is

repayable

in

equal

quarterly

instalments

of

$
954,

each,

until

its

maturity

on
January 4, 2032.
DNB Bank

ASA or DNB:
On June

26, 2023, the

Company entered into

a $
100,000
sustainability linked
loan agreement which was drawn on June 27, 2023, to refinance the outstanding balance of another loan
and

for

working

capital

purposes.

The

loan

is

repayable

in

equal

quarterly

instalments

of

$
3,846
until
December 27, 2029. The loan is subject to a margin reset

and unless the parties agree on a new margin,
the loan will

be mandatorily repayable

on June 27,

2027. On

July 6, 2023,

the Company entered

into an
interest rate swap with DNB for a notional amount for the
30
% of the loan amount. Under the interest rate
swap, the Company pays

a fixed rate and

receives floating under term

SOFR.

The swap has a

termination
date on December 27,

2029, and a mandatory

break on June 27,

2027, according to which the

swap will
be terminated if the loan is prepaid. As of December 31,

2024 and 2023, the fair value of the interest rate
swap amounted

to

$
165
and $
439, respectively,

and is

separately presented

in current

assets/liabilities
and non-current liabilities. In 2024 and 2023, the Company recognized a gain of $
274
and a loss of $
439,
respectively, from

the swap valuation separately presented as gain/(loss) on derivative instruments in the
accompanying consolidated statements

of income.
Dan