Performance Shipping Inc. Secures Sale and Leaseback Agreement for Previously Announced Newbuild LR2 Aframax Tanker

The bareboat financing amount totals US$44.25 million and as part of this agreement, the Vessel will be sold and chartered back on a bareboat basis for an eight-year period from delivery at bareboat charter rates equivalent to 96 monthly installments of US$7,132 per day and a balloon payment of approximately US$23.7 million payable together with the last installment, with an implied interest rate of Term SOFR plus 2.425% per annum. The Company has continuous options to repurchase the Vessel at predetermined ...