Performance Shipping Inc. Announces Acceptance of a Signed Commitment Letter From Alpha Bank A.E. to Refinance Existing Facilities

ATHENS, Greece, June 24, 2025 (GLOBE NEWSWIRE) — Performance Shipping Inc. (NASDAQ: PSHG), (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today announced that it has accepted a commitment letter whereby it intends to enter into an agreement for a refinancing of the existing loan outstanding of US$29,750,000 with Alpha Bank A.E. (the “Facility”) through two separate wholly-owned subsidiaries of the Company. This Facility is subject to the completion of customary closing conditions and the execution of a final loan agreement by the Company and its lenders. Proceeds from the Facility will be used to refinance in full the existing indebtedness maintained with Alpha Bank and secured by the M/T P. Long Beach and the M/T P. Aliki. This Facility shall bear interest at the rate of SOFR plus 1.90% per annum.

Source: https://www.globenewswire.com/news-release/2025/06/24/3104351/14069/en/Performance-Shipping-Inc-Announces-Acceptance-of-a-Signed-Commitment-Letter-From-Alpha-Bank-A-E-to-Refinance-Existing-Facilities.html