Genco extends equity financing deadline by 2 weeks

GENCO

As previously disclosed in Current Reports on Form 8-K filed by Genco Shipping & Trading Limited (the “Company”) on June 30, 2016 and August 16, 2016 and in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2016, under an amended and restated commitment letter (the “Amended Commitment Letter”) executed by the Company and certain of its lenders for a senior secured term loan facility described therein on June 30, 2016 and an amendment thereto executed by such parties on August 12, 2016, the Company received extensions of waivers with regard to certain covenants under its $100 Million Term Loan Facility, $253 Million Term Loan Facility, $148 Million Credit Facility, $22 Million Term Loan Facility, $44 Million Term Loan Facility, and its 2015 Revolving Credit Facility.

On August 30, 2016, such parties entered into a further amendment to the Amended Commitment Letter that extended the Company’s August 31, 2016 deadline to enter into a definitive purchase agreement or file a registration statement for an equity financing to September 14, 2016.

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