Daily News: September 18, 2015

RBS Provides $148MM Diana Containerships Term Loan

Diana Containerships, a global shipping company specializing in the ownership of containerships, signed a six year term loan facility with The Royal Bank of Scotland for up to $148 million, which will bear interest at the rate of 2.75% over LIBOR. Yesterday, it completed a drawdown of $122.5 million, secured by the merchant vessels (m/v) Sagitta, Centaurus, Pucon, YM March, Great, YM Los Angeles, YM New Jersey and Rotterdam.

The drawdown amount was used to voluntarily prepay in full the balance of $92.7 million of the existing revolving credit facility with The Royal Bank of Scotland and to partially finance the acquisition cost of the m/v Rotterdam.

Diana Containerships’ fleet currently consists of 14 container vessels (five Post-Panamax and nine Panamax). The company also expects to take delivery of one Post-Panamax container vessel by the end of November 2015.