Loan & DebtJul 8, 2026, 04:14 PM
Performance Shipping Extends Nordea Facility, Reduces Margin to 1.60%
AI Summary
Performance Shipping Inc. announced it has secured substantially improved terms and an extension for its existing secured loan facility with Nordea Bank. The maturity of the facility has been extended to four years, and the annual margin has been reduced from 2.50% to 1.60%. This amendment enhances the company's financial flexibility, reduces its cost of capital, and ensures no bank debt maturities are scheduled before mid-2030.
Key Highlights
- Nordea Bank facility maturity extended to four years from effective date.
- Margin on the facility reduced from 2.50% per annum 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.
- The existing secured loan facility was originally dated August 4, 2023.
Price Impact
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