Welcome to our dedicated page for Genco Shipping & Trading SEC filings (Ticker: GNK), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Genco Shipping & Trading Limited (NYSE: GNK) filed an 8-K disclosing the execution of a Fifth Amendment to its Credit Agreement on 10-Jul-2025. The amendment replaces the prior revolver with a $600 million senior secured revolving credit facility that can be drawn for fleet expansion and general corporate purposes.
- Size: Commitments rise 50% to $600 million (was $400 million).
- Pricing: SOFR + 1.75%-2.15% depending on net debt/EBITDA; margin can move 卤5 bps based on emissions performance.
- Maturity: Extended to July 2030 from November 2028; 20-year amortisation profile with no commitment reductions before 31-Mar-2027, subject to covenant compliance.
- Covenants: Collateral maintenance ratio lowered to 135% (from 140%); other covenants largely unchanged. Dividends remain permissible if no default and covenants satisfied.
- Security: First-priority liens on the company鈥檚 entire 42-vessel fleet, with future vessels eligible.
- Fees: 35% of the applicable margin on undrawn amounts.
The amendment strengthens liquidity, extends tenor and modestly eases collateral requirements, but pledges all vessels and could increase interest expense in a higher-rate environment.
Kibo Investments Pte. Ltd. has filed Amendment No. 1 to a Schedule 13G reporting its beneficial ownership in Genco Shipping & Trading Limited (GNK). As of the event date 30 June 2025, Kibo holds 4,156,171 common shares, representing 9.7 % of the 42,959,464 shares outstanding (per the issuer鈥檚 10-Q dated 07 May 2025). The Singapore-based investor reports sole voting and dispositive power over the entire stake and no shared power, indicating an independent, passive holding.
The filing was made under Rule 13d-1(c) for investors not seeking to influence control. The director Bernard Fung signed the certification on 02 July 2025. Crossing the 5 % threshold and approaching 10 % places Kibo among GNK鈥檚 largest shareholders, a data point that can affect ownership structure analyses, potential future proxy dynamics, and liquidity considerations.
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