Diana Shipping has taken out $123m in loans to refinance debt that is backed by a third of its dry bulk fleet.

The New York-listed owner of 44 bulkers said it has signed a non-binding term sheet for a new sustainability-linked loan facility of up to $100m that must be paid off within 6.5 years.

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Athens-based Diana has also penned a non-binding term sheet for a $22.5m