Genco Shipping & Trading said banks that are offering to help refinance its outstanding debt have agreed to push back the deadline by two weeks for the bulker owner to raise fresh equity.
Genco needs to raise $125m in equity as a condition for closing on a new $400m loan to refinance Genco’s existing debt. It said it has been able to get commitments for half that amount from Centerbridge Partners, Strategic Value Partners and Apollo Global Management.
The
