Genco Shipping & Trading provided further details on a previously announced refinancing deal, one of which include the potential for winnowing its dry bulk fleet through scrapping or sales.
The John Wobensmith-led company received a commitment earlier in June for a $400m term loan to refinance six existing term loans and credit facilities with some $446m in outstanding principal.
The refinancing comes from a syndicate including Nordea Bank, SEB, DVB Bank, ABN Amro, Credit Agricole, Deutsche Bank, BNP Paribas and CIC, many of which provided Genco’s existing loan facilities.
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