Performance Shipping Inc. announced on July 2, 2025, the successful placement of US$100 million of bonds in the Nordic bond market. An application will be made for these bonds to be listed on the Oslo Stock Exchange.
The new bonds are due to mature in July 2029 and will carry a fixed coupon of 9.875% per annum, payable semi-annually in arrears. The bonds were priced at 97% of par and are secured in part by first priority mortgages over two of the company’s oldest tanker vessels, which are presently unencumbered.
The offering is expected to close on July 17, 2025, subject to customary closing conditions. The net proceeds from this bond issue are designated for tanker acquisitions or bond repurchases, supporting the company's fleet expansion and renewal strategy.
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