Performance Shipping Inc. has announced the signing of a refinancing agreement with Alpha Bank S.A. to restructure its existing loan facility. The agreement involves two wholly-owned subsidiaries of the company and refinances the full outstanding loan balance of $29,750,000, previously secured by the M/T P. Long Beach and the M/T P. Aliki. The new facility carries an interest rate of SOFR plus 1.90% per annum and is structured to be repayable in 20 consecutive quarterly installments of $1,050,000 each. A balloon payment of $8,750,000 is scheduled alongside the final installment in mid-2030. This refinancing follows the acceptance of a commitment letter from Alpha Bank on June 24, 2025.
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