Genco Shipping raise equity

USA based dry bulk carrier owner Genco Shipping & Trading expectaping to raise $63 million in fresh equity. CEO Peter Georgiopoulos’s Genco Shipping & Trading has a reprieve until at least
September 30, 2016. For some loans up to October 15, 2016. Banks also have established an interim deadline for Genco Shipping & Trading to either produce a commitment letter or file a public pro spectus related to the new funds. Genco Shipping & Trading announced in a New York securities
filing this week that the lenders agreed to relax that deadline to 31 August from an original deadline of 15 August. New $400 million financing is designed to see Genco Shipping & Trading through the remainder of the dry bulk downturn.