8-K - Genco Shipping & Trading Limited | StockGist

AI Analysis

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Genco Shipping & Trading Limited entered into a Sixth Amendment to its Credit Agreement on February 27, 2026, upsizing its $600 million revolving credit facility by $80 million to $680 million total capacity to finance two agreed-to Newcastlemax vessel acquisitions. The amendment involves Nordea Bank Abp as agent and specified lenders as participants.

Key Takeaways

1Sixth Amendment dated February 27, 2026, to Credit Agreement originally dated August 3, 2021

2Revolving credit facility increased from $600 million to $680 million via $80 million accordion feature

3Parties include Nordea Bank Abp (New York Branch) as Administrative Agent and Collateral Agent, Skandinaviska Enskilda Banken AB (PUBL), DNB Capital LLC, ING Capital LLC, First-Citizens Bank & Trust Company

4Additional capacity to finance portion of two Newcastlemax vessels: Genco Stars and Stripes and Genco Valkyrie

5Vessels aged between five and eight years, to serve as additional collateral

6Required lender threshold increased from 50% to 53.7% solely for this amendment

Current Report Details

Event Type

Material Agreement

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

of this Current Report on Form 8-K is incorporated by reference into this Item 2.03 in its entirety. “Safe Harbor” Statement under the Private Securities Litiga

Material Agreement

9.01

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Sixth Amendment to Credit Agreement dated as of February 27, 2026, by and among Gen

Exhibits Only

Transaction Details

Material Agreement

Agreement: Sixth Amendment to Credit Agreement
Parties: Genco Shipping & Trading Limited (Borrower), Subsidiary Guarantors, Nordea Bank Abp, New York Branch (Administrative Agent, Collateral Agent), Nordea Bank Abp, New York Branch (2026 Upsize Revolving Lender), Skandinaviska Enskilda Banken AB (PUBL), DNB Capital LLC, ING Capital LLC, First-Citizens Bank & Trust Company

•Upsize of revolving credit facility by $80 million from $600 million to $680 million
•Incremental Revolving Commitments of $80,000,000
•Use for financing two 2026 Accordion Vessels (Genco Stars and Stripes, Genco Valkyrie)
•Increase in required threshold from 50% to 53.7% for vessel appraisals
•Appraisals from Fearnleys (January 20, 2026) and Clarksons (January 28, 2026) accepted

Debt / Financing

Instrument: Revolving Credit Facility
Principal: 680000000
Use of Proceeds: Finance portion of two Newcastlemax vessels (Genco Stars and Stripes and Genco Valkyrie)

Exhibits (2)

10.1

EXHIBIT 10.1

8-K