Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
GENCO SHIPPING & TRADING LTD incurred revolving credit of $500 million with Nordea Bank Abp, New York Branch as Administrative Agent, Collateral Agent, and Security Trustee and Nordea Bank Abp, New York Branch, Skandinaviska Enskilda Banken AB (PUBL), DNB Capital LLC, First-Citizens Bank & Trust Company, ING Bank N.V., London Branch, CTBC Bank Co. Ltd., and Crédit Agricole at 1.85% to 2.15% plus the Secured Overnight Financing Rate (SOFR) maturing November 2028.
- Instrument
- revolving credit
- Principal
- $500 million
- Counterparty
- Nordea Bank Abp, New York Branch as Administrative Agent, Collateral Agent, and Security Trustee and Nordea Bank Abp, New York Branch, Skandinaviska Enskilda Banken AB (PUBL), DNB Capital LLC, First-Citizens Bank & Trust Company, ING Bank N.V., London Branch, CTBC Bank Co. Ltd., and Crédit Agricole
- Rate
- 1.85% to 2.15% plus the Secured Overnight Financing Rate (SOFR)
- Maturity
- November 2028
- Event
- incurrence
Exact text from the filing
On November 29, 2023, Genco Shipping & Trading Limited and certain of its vessel-owning and other subsidiaries acting as guarantors or security providers entered into a Fourth Amendment to Credit Agreement with Nordea Bank Abp, New York Branch as Administrative Agent, Collateral Agent, and Security Trustee and Nordea Bank Abp, New York Branch, Skandinaviska Enskilda Banken AB (PUBL), DNB Capital LLC, First-Citizens Bank & Trust Company, ING Bank N.V., London Branch, CTBC Bank Co. Ltd., and Crédit Agricole Corporate & Investment Bank as lenders to amend, extend, and upsize its $450 Million Credit Facility as previously announced. The amended structure consists of a $500 million revolving credit facility (the “$500 Million Revolver”), which can be utilized to support growth of the Company’s asset base as well as general corporate purposes.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
GENCO SHIPPING & TRADING LTD amended Fourth Amendment to Credit Agreement with Nordea Bank Abp, New York Branch, Skandinaviska Enskilda Banken AB (PUBL), DNB Capital LLC, First-Citizens Bank & Trust Company, ING Bank N.V., London Branch, CTBC Bank Co. Ltd., and Crédit Agricole Corporate & Investment Bank valued at $500 million (effective 2023-11-29).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Nordea Bank Abp, New York Branch, Skandinaviska Enskilda Banken AB (PUBL), DNB Capital LLC, First-Citizens Bank & Trust Company, ING Bank N.V., London Branch, CTBC Bank Co. Ltd., and Crédit Agricole Corporate & Investment Bank
- Value
- $500 million
- Effective
- 2023-11-29
Exact text from the filing
On November 29, 2023, Genco Shipping & Trading Limited and certain of its vessel-owning and other subsidiaries acting as guarantors or security providers entered into a Fourth Amendment to Credit Agreement with Nordea Bank Abp, New York Branch as Administrative Agent, Collateral Agent, and Security Trustee and Nordea Bank Abp, New York Branch, Skandinaviska Enskilda Banken AB (PUBL), DNB Capital LLC, First-Citizens Bank & Trust Company, ING Bank N.V., London Branch, CTBC Bank Co. Ltd., and Crédit Agricole Corporate & Investment Bank as lenders to amend, extend, and upsize its $450 Million Credit Facility as previously announced.
View on SEC.gov