Performance Shipping Inc. announced on July 24, 2025, that it has signed an agreement for the refinancing of its existing loan facility with Alpha Bank S.A. This agreement follows the acceptance of a commitment letter from Alpha Bank, as previously announced on June 24, 2025.
The facility refinances the full outstanding loan balance of US$29,750,000, which was previously secured by the M/T P. Long Beach and the M/T P. Aliki. The new facility bears interest at the rate of SOFR plus 1.90% per annum.
The loan will be repayable in twenty consecutive quarterly installments of US$1,050,000 each. A balloon payment of US$8,750,000 will be due concurrently with the twentieth quarterly installment in mid-2030, extending the company's debt maturities.
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