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
Sixth Amendment dated February 27, 2026, to Credit Agreement originally dated August 3, 2021
Revolving credit facility increased from $600 million to $680 million via $80 million accordion feature
Parties 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
Additional capacity to finance portion of two Newcastlemax vessels: Genco Stars and Stripes and Genco Valkyrie
Vessels aged between five and eight years, to serve as additional collateral
Required lender threshold increased from 50% to 53.7% solely for this amendment