Performance Shipping Inc. Announces Signing of Refinancing Agreement With Alpha Bank S.A.
Performance Shipping (NASDAQ:PSHG), a global tanker vessel company, has secured a refinancing agreement with Alpha Bank S.A. for its existing loan facility. The refinancing covers the full outstanding balance of $29.75 million, previously secured by vessels M/T P. Long Beach and M/T P. Aliki.
The new facility features an interest rate of SOFR plus 1.90% annually, with a structured repayment plan consisting of 20 quarterly installments of $1.05 million each and a balloon payment of $8.75 million due in mid-2030.
[ "Successful refinancing of $29.75 million loan facility secured", "Extended repayment timeline through mid-2030 provides long-term financial stability", "Structured quarterly payments of $1.05 million demonstrate manageable debt servicing" ]Performance Shipping (NASDAQ:PSHG), una compagnia globale di navi cisterna, ha ottenuto un accordo di rifinanziamento con Alpha Bank S.A. per la sua linea di credito esistente. Il rifinanziamento copre l'intero saldo residuo di 29,75 milioni di dollari, precedentemente garantito dalle navi M/T P. Long Beach e M/T P. Aliki.
La nuova linea di credito prevede un tasso d'interesse annuo di SOFR pi霉 1,90%, con un piano di rimborso strutturato in 20 rate trimestrali da 1,05 milioni di dollari ciascuna e un pagamento finale di 8,75 milioni di dollari previsto per la met脿 del 2030.
- Rifinanziamento con successo di una linea di credito da 29,75 milioni di dollari garantita
- Estensione del piano di rimborso fino alla met脿 del 2030 per una stabilit脿 finanziaria a lungo termine
- Pagamenti trimestrali strutturati da 1,05 milioni di dollari che dimostrano una gestione sostenibile del debito
Performance Shipping (NASDAQ:PSHG), una empresa global de buques tanque, ha asegurado un acuerdo de refinanciamiento con Alpha Bank S.A. para su l铆nea de cr茅dito existente. El refinanciamiento cubre el saldo pendiente completo de 29,75 millones de d贸lares, garantizado anteriormente por los buques M/T P. Long Beach y M/T P. Aliki.
La nueva l铆nea cuenta con una tasa de inter茅s anual de SOFR m谩s 1,90%, con un plan de pagos estructurado en 20 cuotas trimestrales de 1,05 millones de d贸lares cada una y un pago final de 8,75 millones de d贸lares a mediados de 2030.
- Refinanciamiento exitoso de una l铆nea de cr茅dito garantizada por 29,75 millones de d贸lares
- Extensi贸n del plazo de pago hasta mediados de 2030 para estabilidad financiera a largo plazo
- Pagos trimestrales estructurados de 1,05 millones de d贸lares que demuestran una gesti贸n manejable de la deuda
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靸堧鞖� 雽�於� 鞁滌劋鞚� 鞐瓣皠 SOFR 頂岆煬鞀� 1.90%鞚� 鞚挫瀽鞙潉 鞝侅毄頃橂┌, 20攵勱赴 頃犽秬旮� 臧� 105毵� 雼煬鞕� 2030雲� 欷戨皹鞐� 毵岅赴臧� 霃勲灅頃橂姅 875毵� 雼煬鞚� 鞚检嫓旮� 靸來櫂 瓿勴殟鞙茧 甑劚霅橃柎 鞛堨姷雼堧嫟.
- 2,975毵� 雼煬 雼措炒 雽�於� 鞁滌劋 靹标车鞝� 鞛湹鞛�
- 2030雲� 欷戨皹旯岇 鞐办灔霅� 靸來櫂 鞚检爼鞙茧 鞛リ赴 鞛爼 鞎堨爼靹� 頇曤炒
- 攵勱赴氤� 105毵� 雼煬鞚� 甑“頇旊悳 靸來櫂鞙茧 甏�毽� 臧�電ロ暅 攵�毂� 靹滊箘鞀� 鞁滍槃
Performance Shipping (NASDAQ:PSHG), une soci茅t茅 mondiale de transport de navires-citernes, a conclu un accord de refinancement avec Alpha Bank S.A. pour sa facilit茅 de pr锚t existante. Le refinancement couvre le solde total impay茅 de 29,75 millions de dollars, pr茅c茅demment garanti par les navires M/T P. Long Beach et M/T P. Aliki.
La nouvelle facilit茅 propose un taux d'int茅r锚t annuel de SOFR plus 1,90%, avec un plan de remboursement structur茅 comprenant 20 versements trimestriels de 1,05 million de dollars chacun et un paiement ballon de 8,75 millions de dollars d没 脿 la mi-2030.
- Refinancement r茅ussi d'une facilit茅 de pr锚t garantie de 29,75 millions de dollars
- Prolongation de la p茅riode de remboursement jusqu'脿 la mi-2030 assurant une stabilit茅 financi猫re 脿 long terme
- Versements trimestriels structur茅s de 1,05 million de dollars d茅montrant une gestion ma卯tris茅e de la dette
Performance Shipping (NASDAQ:PSHG), ein globales Tankerunternehmen, hat eine Refinanzierungsvereinbarung mit Alpha Bank S.A. f眉r seine bestehende Kreditfazilit盲t abgeschlossen. Die Refinanzierung umfasst den vollst盲ndigen ausstehenden Betrag von 29,75 Millionen US-Dollar, der zuvor durch die Schiffe M/T P. Long Beach und M/T P. Aliki besichert war.
Die neue Fazilit盲t sieht einen Zinssatz von SOFR plus 1,90% j盲hrlich vor, mit einem strukturierten R眉ckzahlungsplan, der 20 viertelj盲hrliche Raten von jeweils 1,05 Millionen US-Dollar und eine Endf盲lligkeit von 8,75 Millionen US-Dollar Mitte 2030 umfasst.
- Erfolgreiche Refinanzierung der besicherten Kreditfazilit盲t in H枚he von 29,75 Millionen US-Dollar
- Verl盲ngerter R眉ckzahlungszeitraum bis Mitte 2030 sorgt f眉r langfristige finanzielle Stabilit盲t
- Strukturierte viertelj盲hrliche Zahlungen von 1,05 Millionen US-Dollar zeigen eine 眉berschaubare Schuldenbedienung
- None.
- Additional debt burden with $8.75 million balloon payment due in 2030
- Interest rate exposure to SOFR fluctuations plus 1.90% margin
ATHENS, Greece, July 24, 2025 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG), (鈥渨e鈥� or the 鈥淐ompany鈥�), a global shipping company specializing in the ownership of tanker vessels, today announced that it has signed an agreement for the refinancing of its existing loan facility with Alpha Bank S.A. (the 鈥淔acility鈥�) through two separate wholly-owned subsidiaries of the Company. This facility refinances the full outstanding loan balance of US
The Facility bears interest at the rate of SOFR plus
About the Company
Performance Shipping Inc. is a global provider of shipping transportation services through its ownership of tanker vessels. The Company employs its fleet on spot voyages, through pool arrangements and on time charters.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include, but are not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including with respect to the delivery of the vessels we have agreed to acquire, future market conditions and the prospective financing and employment of our vessels. The words 鈥渂elieve," 鈥渁nticipate," 鈥渋ntends," 鈥渆stimate," 鈥渇orecast," 鈥減roject," 鈥減lan," 鈥減otential," 鈥渨ill," 鈥渕ay," 鈥渟hould," 鈥渆xpect," 鈥渢argets," 鈥渓ikely," 鈥渨ould," 鈥渃ould," 鈥渟eeks," 鈥渃ontinue," 鈥減ossible," 鈥渕ight," 鈥減ending鈥� and similar expressions, terms or phrases may identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including, without limitation, our management鈥檚 examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs, or projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to: the strength of world economies, fluctuations in currencies and interest rates, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker shipping industry, changes in the supply of vessels, changes in worldwide oil production and consumption and storage, changes in our operating expenses, including bunker prices, crew costs, drydocking and insurance costs, our future operating or financial results, availability of financing and refinancing including with respect to vessels we agree to acquire, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, the length and severity of epidemics and pandemics, including COVID-19, and their impact on the demand for seaborne transportation of petroleum and other types of products, general domestic and international political conditions or events, including 鈥渢rade wars鈥�, armed conflicts including the war in Ukraine and the war between Israel and Hamas or Iran, the imposition of new international sanctions, acts by terrorists or acts of piracy on ocean-going vessels, potential disruption of shipping routes due to accidents, labor disputes or political events, vessel breakdowns and instances of off-hires and other important factors. Please see our filings with the US Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.
Corporate Contact: Andreas Michalopoulos Chief Executive Officer, Director and Secretary Telephone: +30-216-600-2400 Email:[email protected] Website:www.pshipping.com Investor and Media Relations: Edward Nebb Comm-Counsellors, LLC Telephone: + 1-203-972-8350 Email:[email protected]
FAQ
What is the total value of Performance Shipping's (PSHG) new loan refinancing with Alpha Bank?
What are the interest rate terms for PSHG's new Alpha Bank facility?
How will Performance Shipping (PSHG) repay the Alpha Bank loan?
Which vessels are involved in Performance Shipping's Alpha Bank refinancing?
When is the balloon payment due for PSHG's Alpha Bank loan?
