Simpson Thacher advised the underwriters on a $65 million preferred shares offering by Diana Shipping, Inc., including shares sold pursuant to the underwriters’ option to purchase additional shares. Morgan Stanley Co. LLC, UBS Securities LLC and Deutsche Bank Securities, Inc. were the joint book-running managers for the offering. The initial offering closed on February 14, 2014.
Diana Shipping, Inc. is a global provider of shipping transportation services through its ownership of dry bulk vessels, specializing in transporting dry bulk cargoes including iron ore, coal, grain and other materials along worldwide shipping routes.
The Simpson Thacher team for the transaction included Lesley Peng, Katerina Kousoula, Hui Lin and Daniel Hulme (Capital Markets); Jonathan Cantor and Andrew Purcell (Tax); Michael Isby (Environmental); Jamin Koslowe and Holly Gurian (Executive Compensation and Employee Benefits) and Andrew Pagliughi (Blue Sky).