08:55 AM EDT, 07/14/2025 (MT Newswires) -- Genco Shipping & Trading ( GNK ) said Monday it has closed a $600 million revolving credit facility, amending its current facility to increase the borrowing capacity by 50% to $600 million in total.

The company has also extended the maturity to 2030, Genco said, adding that the facility has a repayment term of 20 years.

The new facility allows the drybulk ship owner with an additional $300 million in borrowing capacity, it said.

Genco said it has $100 million of outstanding debt and $500 million of undrawn revolver availability as of July 14.

Shares of the company were up 1% in recent Monday premarket activity.