Greek tanker owner Performance Shipping led-by chairperson of its board Aliki Paliou has signed an agreement for the refinancing of its existing loan facility with compatriot Alpha Bank S.A.

The deal was signed “through two separate wholly-owned subsidiaries of the company.”

The Nasdaq-listed company said the facility refinances the full outstanding loan balance of US$29,750,000 previously secured by the aframax tankers P. Long Beach (2013-built) and P. Aliki (2010-built).

This agreement follows the acceptance of a commitment letter from Greek Alpha Bank, as previously announced by the company on June 24.

According to Performance Shipping, the facility bears interest at the rate of SOFR plus 1.90% per annum.

It will be repayable in twenty consecutive quarterly installments of US$1,050,000 each, with a balloon payment of US$8,750,000 payable concurrent with the twentieth quarterly installment in mid-2030.