DSX obtains US$55M secured term facility from National Bank of Greece

Rhea-AI Filing Summary

Diana Shipping Inc. announced it signed a US$55.0 million, six-year secured term loan facility with National Bank of Greece S.A., with the agreement executed on September 29, 2025 and disclosed in a press release dated October 1, 2025. The Form 6-K incorporates that press release into the company’s registration statements on Form F-3. The filing provides the headline financing amount, tenor, and lender but does not include additional commercial terms or the intended use of proceeds.

Positive

• Secured financing obtained: US$55.0 million six-year term loan signed with National Bank of Greece S.A.
• Tenor provides medium-term liquidity: six-year duration reduces near-term refinancing pressure.

Negative

• Key commercial terms missing: interest rate, amortization schedule and covenant details are not disclosed in the filing.
• Use of proceeds not specified: filing does not state how the US$55.0 million will be deployed.

Insights

Financial Analyst

TL;DR: A $55.0M, six-year secured facility strengthens liquidity but commercial terms are undisclosed.

This financing is material in size for a shipping firm of Diana Shipping's scale and provides multi-year secured funding, which can support working capital, refinancing or fleet-related needs. The six-year tenor suggests medium-term liquidity planning. However, the press release and incorporated Form 6-K do not disclose interest rate, covenants, collateral specifics or how the proceeds will be deployed, limiting the ability to assess cost of capital and covenant risk.

Corporate Finance Specialist

TL;DR: Secured term loan with a major Greek bank is a constructive financing event, but missing deal specifics restrict credit analysis.

From a capital-structure perspective, securing €/US$ term financing for six years can reduce short-term refinancing risk and demonstrates access to bank credit markets. The involvement of National Bank of Greece indicates lender confidence. Absent are amortization schedule, security package, financial covenants and any cross-default clauses; those items are essential to evaluate balance-sheet impact and default risk. The incorporation by reference into Form F-3 registration statements is a routine disclosure practice.

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2025

Commission File Number: 001-32458

DIANA SHIPPING INC.

(Translation of registrant's name into English)

Pendelis 16, 175 64 Palaio Faliro, Athens, Greece

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X] Form 40-F [ ]

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this Report on Form 6-K as Exhibit 99.1 is a press release dated October 1, 2025, of Diana Shipping Inc. (the "Company"), announcing the successful signing of a US$55.0 million six-year secured term loan facility with National Bank of Greece S.A. on September 29, 2025.

The information contained in this Report on Form 6-K, excluding commentary from Mr. Ioannis Zafirakis, is hereby incorporated by reference into the Company's registration statements on Form F-3 (File Nos. 333-266999 and 333-280693) that were filed with the U.S. Securities and Exchange Commission and became effective on September 16, 2022, and September 9, 2024, respectively.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	DIANA SHIPPING INC.
	(registrant)
Dated: October 1, 2025	By:	/s/ Anastasios Margaronis
		Anastasios Margaronis
		President

FAQ

What did Diana Shipping (DSX) announce in the Form 6-K?

The company announced it signed a US$55.0 million six-year secured term loan facility with National Bank of Greece S.A.

When was the loan agreement signed and disclosed?

The loan was signed on September 29, 2025 and disclosed in a press release dated October 1, 2025.

Does the Form 6-K include the loan's interest rate and covenants?

No. The filing states the loan amount, tenor and lender but does not disclose interest rate, covenants or collateral details.

Is the press release incorporated into other filings?

Yes. The information (excluding certain commentary) is incorporated by reference into the company’s Form F-3 registration statements listed in the filing.

Who is the lender for the facility?

The lender is National Bank of Greece S.A..