Genco Shipping & Trading Closes New $600 Million Revolving Credit Facility, Increasing Borrowing Capacity by 50%
Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK)
Last genco shipping & trading limited ordinary shares new (marshall islands) earnings: 2/25 04:30 pm
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gencoshipping.com
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Source: GlobeNewswire
NEW YORK, July 14, 2025 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today announced it has closed a $600 million revolving credit facility, amending its existing facility to provide significant capacity to pursue accretive growth opportunities among other uses. Key terms of the $600 million revolving credit facility include: Increased borrowing capacity by 50% or $200 million to $600 million in aggregateRepayment profile of 20 years with no commitment reductions until March 31, 2027 based on covenant complianceImproved pricing: margin reduced to 1.75% and commitment fees on undrawn amounts reduced to 0.61%*100% revolving credit facility structure provides flexibility for Genco to continue to pay down debt while maintaining the ability to opportunistically draw down capitalExtended maturity to 2030Accordion feature allows for addition
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News
- Genco Shipping & Trading (NYSE:GNK) was downgraded by analysts at <a style="font-weight:bold" href="https://www.wallstreetzen.com/newsletters/zen-ratings?ticker=GNK&utm_campaign=getratings&utm_medium=online&utm_source=MarketBeat">Wall StMarketBeat
- Genco Shipping & Trading (NYSE:GNK) had its "hold (c-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Genco Shipping & Trading Confirms Receipt of a Non-Binding Indicative Proposal from Diana Shipping Inc.GlobeNewswire
- Genco Shipping & Trading to Acquire Two High-Specification Newcastlemax Vessels [Yahoo! Finance]Yahoo! Finance
- Genco Shipping & Trading to Acquire Two High-Specification Newcastlemax VesselsGlobeNewswire
GNK
Earnings
- 11/5/25 - Miss
GNK
Sec Filings
- 12/5/25 - Form 8-K
- 11/26/25 - Form 4
- 11/26/25 - Form 4
- GNK's page on the SEC website