Genco Shipping purchase agreement waivers extended to Sept. 30

By Tali Rackner

Norfolk, Va., Sept. 14 – Genco Shipping & Trading Ltd. obtained an extension of the waivers with regard to its $100 million, $253 million, $22 million and $44 million term loan facilities, $148 million credit facility and 2015 revolving credit facility through Sept. 30, according to an 8-K filing with the Securities and Exchange Commission.

On Tuesday, the company and its lenders agreed to extend the deadline under its amended commitment letter to enter into a definitive purchase agreement or file a registration statement for an equity financing to Sept. 30 from Sept. 14. It was previously extended from Aug. 31.

Genco is a New York-based transporter of drybulk cargoes.

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