Diana Shipping Extends Financing for Genco Acquisition Offer

M&A · Partnership

โดย GlobeNewswire·Read original

Summary · why it matters

Diana Shipping has extended the fully committed financing backing its offer to acquire all outstanding shares of Genco Shipping & Trading not already owned by Diana. The total financing amount is $1.412 billion, arranged by DNB Carnegie and Nordea with participation from DNB, Nordea, BNP Paribas, Standard Chartered, Deutsche Bank, and Danske Bank. Tranche B of the commitment was adjusted from $331 million to $310 million following Genco's sale of two vessels, while Tranche A remains unchanged at $1.102 billion. Diana's offer of $27.34 per share, comprising $24.80 in cash and one Diana share valued at $2.54, remains on the table and represents a 53% premium to Genco's undisturbed share price. The company stated that the financing extension, combined with shareholder tender support, reflects growing momentum behind its proposal and its commitment to negotiating a transaction with Genco.

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