{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-055920","form_type":"8-K","ticker":"GNK","cik":"0001326200","company_name":"GENCO SHIPPING & TRADING LTD","filed_at":"2023-12-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.622561+00:00","generated_at":"2026-06-07T18:37:40.889142+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Genco upsizes credit facility to $500M, extends maturity to Nov 2028","bullets":["Maximum loan capacity increased to $500M from $344M, a $156M (46%) increase.","Maturity extended from August 2026 to November 2028; quarterly commitment reductions ~$15M.","Borrowings bear SOFR + 1.85%-2.15%, with a ±0.05% margin adjustment for emissions targets.","Facility is a revolving credit line for growth and general corporate purposes.","Collateral includes 45 of 46 vessels; dividend allowed if no default and pro forma compliance."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-055920","json":"https://secwatch.observer/filing/0001140361-23-055920.json","markdown":"https://secwatch.observer/filing/0001140361-23-055920.md","text":"https://secwatch.observer/filing/0001140361-23-055920.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1326200/000114036123055920/0001140361-23-055920-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1326200/000114036123055920/ef20015901_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T18:37:40.889142+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5cf3e0c7c4e43ec9d6ade42dfbae292f71d50bce","claim":"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.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1326200/000114036123055920/0001140361-23-055920-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$500 million"},{"label":"Counterparty","value":"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"},{"label":"Rate","value":"1.85% to 2.15% plus the Secured Overnight Financing Rate (SOFR)"},{"label":"Maturity","value":"November 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"3b90eb3853a123818b93fc4e95a6b5d9d5a289e5","claim":"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).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1326200/000114036123055920/0001140361-23-055920-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"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"},{"label":"Value","value":"$500 million"},{"label":"Effective","value":"2023-11-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}