Diana gets $148 million loan from Royal Bank of Scotland

SEPTEMBER 16, 2015 — Rumors that Royal Bank of Scotland is planing to exit the Greek shipping markets have been growing since July. "We won't be around for much more in Greece.

RBS is slowly closing up operations here," Reuters quoted one source at RBS as saying. Be all that as it may, today Athens, Greece, headquartered Diana Containerships Inc. (NASDAQ:DCIX) said that on September 10 it\ signed a six year term loan facility with the Royal Bank of Scotland plc for up to $148 million, which will bear interest at the rate of 2.75% over LIBOR.

Yesterday, Diana completed a drawdown of $122.5 million, secured by the vessels m/v Sagitta, m/v Centaurus, m/v Pucon, m/v YM March, m/v Great, m/v YM Los Angeles, m/v YM New Jersey and m/v Rotterdam. The drawdown amount was used to voluntarily prepay in full the balance of $92.7 million of the existing revolving credit facility with RBS and to partially finance the acquisition cost of the m/v Rotterdam.

Separately, the company also announced that yesterday, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Maersk Line A/S for one of its Panamax container vessels, the m/v Centaurus, for a period of minimum eleven months to maximum eighteen months. The new gross charter rate will be US$10,875 per day, minus a 5% commission paid to third parties. The new charter period will commence on October 2, 2015.

Centaurus is a 3,426 TEU container vessel built in 2010.

This employment is anticipated to generate approximately $3.59 million of gross revenue for the minimum scheduled period of the charter extension.Diana containerships Inc.'s fleet currently consists of 14 container vessels (5 Post-Panamax and 9 Panamax). It also expects to take delivery of one Post-Panamax container vessel by the end of November 2015.

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