Loan & DebtJul 8, 2026, 09:28 AM
Performance Shipping Extends Loan Maturity, Reduces Margin
AI Summary
Performance Shipping Inc., through two wholly-owned subsidiaries, announced a first supplemental agreement with Nordea Bank Abp NUF to amend its existing secured loan facility. The amendment extends the facility's maturity to four years from its effective date and reduces the applicable margin from 2.50% to 1.60% per annum. The company stated that this agreement strengthens its financing profile, enhances financial flexibility, and reduces its cost of capital, with no bank debt maturities now scheduled before mid-2030.
Key Highlights
- Loan facility maturity extended to four years from effective date.
- Margin applicable to the facility reduced from 2.50% to 1.60% per annum.
- No change to the outstanding principal amount of the loan.
- Company now has no bank debt maturities scheduled prior to mid-2030.
- Amendment enhances financial flexibility and reduces cost of capital.
- Facility remains secured and guaranteed by the Company.
Price Impact
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