$GNK: Genco Shipping & Trading announces closing o
Post# of 22755
Posted On: 11/16/2016 10:32:13 AM
$GNK: Genco Shipping & Trading announces closing of $400 mln credit facility and $125 mln sale of series A preferred stock
5:21 PM ET 11/15/16 | Briefing.com
Proceeds from the new $400 mln credit facility will be used to refinance all of the existing credit facilities into one facility with the exception of the $98 Mln Credit Facility and the 2014 Term Loan Facilities. The new $400 mln facility has improved the terms and covenants across all of the refinanced facilities and simplified its capital structure. The co further improved its liquidity and balance sheet with the completion of the $125 mln capital raise. The facility has a final maturity date of November 15, 2021.
5:21 PM ET 11/15/16 | Briefing.com
Proceeds from the new $400 mln credit facility will be used to refinance all of the existing credit facilities into one facility with the exception of the $98 Mln Credit Facility and the 2014 Term Loan Facilities. The new $400 mln facility has improved the terms and covenants across all of the refinanced facilities and simplified its capital structure. The co further improved its liquidity and balance sheet with the completion of the $125 mln capital raise. The facility has a final maturity date of November 15, 2021.
(1)
(0)Scroll down for more posts ▼