Growth and dividends are firmly on the cards for Genco Shipping & Trading after the bulker owner secured a $460m refinancing.
New York-listed Genco revealed the new five-year loan from Nordea Bank, SEB, ABN AMRO, DVB Bank SE, Credit Agricole and Danish Ship Finance as it reported a first quarter loss.
Carrying an interest rate of LIBOR plus 325 basis points until the end of this year, and a range of LIBOR plus a range of 300 to 350 basis points thereafter, Genco says the new loan brings all of its debt into one facility.
