Diamond S Shipping Inc. Announces Closing of New $525 Million Credit Facility

GREENWICH, Conn.--(BUSINESS WIRE)--Diamond S Shipping Inc. (NYSE: DSSI) (“Diamond S”, or the “Company”), announced today that it has closed on a five-year $525 million credit facility, composed of a $375 million term loan and a $150 million revolving credit facility. Proceeds from the new credit facility were used to repay approximately $501 million of the Company’s current outstanding term loans. The new credit facility carries an interest rate of LIBOR plus 2.5%. The repayment profile reflects a 17-year, age-adjusted amortization and the first amortization period begins on March 31, 2020. The covenant structure of the new facility is in-line with current facilities.