---
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"
generated_at: "2026-06-07T18:37:40.889142+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Genco upsizes credit facility to $500M, extends maturity to Nov 2028

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-055920
- JSON: https://secwatch.observer/filing/0001140361-23-055920.json
- Plain text: https://secwatch.observer/filing/0001140361-23-055920.txt

## Key facts
- Debt Financings
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1326200/000114036123055920/0001140361-23-055920-index.htm
- Material Agreements
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1326200/000114036123055920/0001140361-23-055920-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.