0001104659-16-126637.txt : 20160610 0001104659-16-126637.hdr.sgml : 20160610 20160610172947 ACCESSION NUMBER: 0001104659-16-126637 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20160610 DATE AS OF CHANGE: 20160610 GROUP MEMBERS: AEC (LUX) S.A.R.L. GROUP MEMBERS: AES (LUX) S.A.R.L. GROUP MEMBERS: ANS U.S. HOLDINGS LTD. GROUP MEMBERS: APOLLO CAPITAL MANAGEMENT GP, LLC GROUP MEMBERS: APOLLO CAPITAL MANAGEMENT, L.P. GROUP MEMBERS: APOLLO CENTRE STREET MANAGEMENT, LLC GROUP MEMBERS: APOLLO CENTRE STREET PARTNERSHIP, L.P. GROUP MEMBERS: APOLLO CREDIT OPPORTUNITY FUND (OFFSHORE) III LP GROUP MEMBERS: APOLLO CREDIT OPPORTUNITY FUND III LP GROUP MEMBERS: APOLLO CREDIT OPPORTUNITY MANAGEMENT III LLC GROUP MEMBERS: APOLLO CREDIT OPPORTUNITY TRADING FUND III LP GROUP MEMBERS: APOLLO EUROPEAN CREDIT MANAGEMENT, L.P. GROUP MEMBERS: APOLLO EUROPEAN CREDIT MANAGEMENT, LLC GROUP MEMBERS: APOLLO EUROPEAN STRATEGIC MANAGEMENT, L.P. GROUP MEMBERS: APOLLO EUROPEAN STRATEGIC MANAGEMENT, LLC GROUP MEMBERS: APOLLO FRANKLIN MANAGEMENT, LLC GROUP MEMBERS: APOLLO FRANKLIN PARTNERSHIP, L.P. GROUP MEMBERS: APOLLO MANAGEMENT HOLDINGS, L.P. GROUP MEMBERS: APOLLO PRINCIPAL HOLDINGS II GP, LLC GROUP MEMBERS: APOLLO PRINCIPAL HOLDINGS II, L.P. GROUP MEMBERS: APOLLO SK STRATEGIC INVESTMENTS, L.P. GROUP MEMBERS: APOLLO SK STRATEGIC MANAGEMENT, LLC GROUP MEMBERS: APOLLO SOMA ADVISORS, L.P. GROUP MEMBERS: APOLLO SOMA CAPITAL MANAGEMENT, LLC GROUP MEMBERS: APOLLO SPECIAL OPPORTUNITIES MANAGED ACCOUNT, L.P. GROUP MEMBERS: APOLLO SVF MANAGEMENT GP, LLC GROUP MEMBERS: APOLLO SVF MANAGEMENT, L.P. GROUP MEMBERS: APOLLO ZEUS STRATEGIC INVESTMENTS, L.P. GROUP MEMBERS: APOLLO ZEUS STRATEGIC MANAGEMENT, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GENCO SHIPPING & TRADING LTD CENTRAL INDEX KEY: 0001326200 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-81128 FILM NUMBER: 161709383 BUSINESS ADDRESS: STREET 1: 299 PARK AVENUE STREET 2: 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10171 BUSINESS PHONE: (646) 443-8550 MAIL ADDRESS: STREET 1: 299 PARK AVENUE STREET 2: 12TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10171 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Apollo Management Holdings GP, LLC CENTRAL INDEX KEY: 0001449433 IRS NUMBER: 208351017 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 9 W. 57TH STREET STREET 2: 43RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-515-3200 MAIL ADDRESS: STREET 1: 9 W. 57TH STREET STREET 2: 43RD FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 SC 13D/A 1 a16-13196_1sc13da.htm SC 13D/A

 

 

SECURITIES AND EXCHANGE COMMISSION

 

 

Washington, D.C. 20549

 

 

 


 

 

 

SCHEDULE 13D/A

 

 

Under the Securities Exchange Act of 1934
(Amendment No. 1)*

 

Genco Shipping & Trading Limited

(Name of Issuer)

 

Common Stock, par value $0.01

(Title of Class of Securities)

 

Y2685T115

(CUSIP Number)

 

John F. Hartigan, Esq.

Morgan, Lewis & Bockius LLP

300 S. Grand Avenue, 22nd Floor

Los Angeles, CA 90071

(213) 612-2500

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

June 8, 2016

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Centre Street Partnership, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
744,533 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
744,533 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
744,533 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
1.0%

 

 

14

Type of Reporting Person
PN

 

2



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Centre Street Management, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
744,533 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
744,533 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
744,533 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
1.0%

 

 

14

Type of Reporting Person
OO

 

3



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Franklin Partnership, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
185,752 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
185,752 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
185,752 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
0.3%

 

 

14

Type of Reporting Person
PN

 

4



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Franklin Management, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
185,752 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
185,752 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
185,752 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
0.3%

 

 

14

Type of Reporting Person
OO

 

5



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Credit Opportunity Trading Fund III LP

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
4,279,866 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
4,279,866 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
4,279,866 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
5.9%

 

 

14

Type of Reporting Person
PN

 

6



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Credit Opportunity Fund III LP

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
4,279,866 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
4,279,866 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
4,279,866 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
5.9%

 

 

14

Type of Reporting Person
PN

 

7



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Credit Opportunity Fund (Offshore) III LP

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
4,279,866 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
4,279,866 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
4,279,866 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
5.9%

 

 

14

Type of Reporting Person
PN

 

8



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Credit Opportunity Management III LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
4,279,866 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
4,279,866 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
4,279,866 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
5.9%

 

 

14

Type of Reporting Person
OO

 

9



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
AEC (Lux) S.á.r.l.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Luxembourg

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
555,455 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
555,455 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
555,455 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
0.8%

 

 

14

Type of Reporting Person
OO

 

10



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo European Credit Management, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
555,455 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
555,455 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
555,455 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
0.8%

 

 

14

Type of Reporting Person
PN

 

11



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo European Credit Management, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
555,455 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
555,455 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
555,455 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
0.8%

 

 

14

Type of Reporting Person
OO

 

12



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
AES (Lux) S.á.r.l.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Luxembourg

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
953,633 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
953,633 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
953,633 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
1.3%

 

 

14

Type of Reporting Person
OO

 

13



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo European Strategic Management, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
953,633 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
953,633 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
953,633 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
1.3%

 

 

14

Type of Reporting Person
PN

 

14



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo European Strategic Management, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
953,633 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
953,633 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
953,633 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
1.3%

 

 

14

Type of Reporting Person
OO

 

15



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
ANS U.S. Holdings Ltd.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Cayman Islands

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
384,252 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
384,252 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
384,252 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
0.5%

 

 

14

Type of Reporting Person
CO

 

16



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo SK Strategic Investments, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Cayman Islands

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
384,252 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
384,252 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
384,252 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
0.5%

 

 

14

Type of Reporting Person
PN

 

17



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo SK Strategic Management, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
384,252 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
384,252 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
384,252 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
0.5%

 

 

14

Type of Reporting Person
OO

 

18



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Special Opportunities Managed Account, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
2,352,833 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
2,352,833 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
2,352,833 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
3.2%

 

 

14

Type of Reporting Person
PN

 

19



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo SOMA Advisors, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
2,352,833 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
2,352,833 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
2,352,833 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
3.2%

 

 

14

Type of Reporting Person
PN

 

20



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo SOMA Capital Management, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
2,352,833 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
2,352,833 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
2,352,833 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
3.2%

 

 

14

Type of Reporting Person
OO

 

21



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Principal Holdings II, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
2,352,833 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
2,352,833 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
2,352,833 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
3.2%

 

 

14

Type of Reporting Person
PN

 

22



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Principal Holdings II GP, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
2,352,833 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
2,352,833 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
2,352,833 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
3.2%

 

 

14

Type of Reporting Person
OO

 

23



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo SVF Management, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
2,352,833 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
2,352,833 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
2,352,833 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
3.2%

 

 

14

Type of Reporting Person
PN

 

24



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo SVF Management GP, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
2,352,833 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
2,352,833 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
2,352,833 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
3.2%

 

 

14

Type of Reporting Person
OO

 

25



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Zeus Strategic Investments, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Cayman Islands

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
784,269 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
784,269 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
784,269 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
1.1%

 

 

14

Type of Reporting Person
PN

 

26



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Zeus Strategic Management, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
784,269 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
784,269 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
784,269 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   x

 

 

13

Percent of Class Represented by Amount in Row (11)  
1.1%

 

 

14

Type of Reporting Person
OO

 

27



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Capital Management, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
10,240,593 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
10,240,593 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
10,240,593 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   o

 

 

13

Percent of Class Represented by Amount in Row (11)  
14.0%

 

 

14

Type of Reporting Person
PN

 

28



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Capital Management GP, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
10,240,593 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
10,240,593 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
10,240,593 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   o

 

 

13

Percent of Class Represented by Amount in Row (11)  
14.0%

 

 

14

Type of Reporting Person
OO

 

29



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Management Holdings, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
10,240,593 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
10,240,593 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
10,240,593 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   o

 

 

13

Percent of Class Represented by Amount in Row (11)  
14.0%

 

 

14

Type of Reporting Person
PN

 

30



 

CUSIP No. Y2685T115

13D/A

 

 

 

1

Name of Reporting Person
I.R.S. Identification of Above Person
Apollo Management Holdings GP, LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

 o

 

 

(b)

 x

 

 

3

SEC Use Only

 

 

4

Source of Funds
OO

 

 

5

Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)     o

 

 

6

Citizenship or Place of Organization
Delaware

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7

Sole Voting Power

 

8

Shared Voting Power
10,240,593 shares of Common Stock

 

9

Sole Dispositive Power

 

10

Shared Dispositive Power
10,240,593 shares of Common Stock

 

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person
10,240,593 shares of Common Stock

 

 

12

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares*   o

 

 

13

Percent of Class Represented by Amount in Row (11)  
14.0%

 

 

14

Type of Reporting Person
OO

 

31



 

This Amendment No. 1 to Schedule 13D is filed by:  (i) Apollo Centre Street Partnership, L.P. (ii) Apollo Franklin Partnership, L.P., (iii) Apollo Credit Opportunity Trading Fund III LP, (iv) AEC (Lux) S.á.r.l., (v) AES (Lux) S.á.r.l., (vi) ANS U.S. Holdings Ltd., (vii) Apollo Special Opportunities Managed Account, L.P., (viii) Apollo Zeus Strategic Investments, L.P., (ix) Apollo Centre Street Management, LLC, (x) Apollo Franklin Management, LLC, (xi) Apollo Credit Opportunity Fund III LP, (xii) Apollo Credit Opportunity Fund (Offshore) III LP, (xiii) Apollo Credit Opportunity Management III LLC, (xiv) Apollo European Credit Management, L.P., (xv) Apollo European Credit Management, LLC, (xvi) Apollo European Strategic Management, L.P., (xvii) Apollo European Strategic Management LLC, (xviii) Apollo SK Strategic Investments, L.P., (xix) Apollo SK Strategic Management, LLC, (xx) Apollo SOMA Advisors, L.P., (xxi) Apollo SOMA Capital Management, LLC, (xxii) Apollo Principal Holdings II, L.P., (xxiii) Apollo Principal Holdings II GP, LLC, (xxiv) Apollo SVF Management, L.P., (xxv) Apollo SVF Management GP, LLC, (xxvi) Apollo Zeus Strategic Management, LLC, (xxvii) Apollo Capital Management, L.P. (“Capital Management”), (xxviii) Apollo Capital Management GP, LLC, (xxix) Apollo Management Holdings, L.P., and (xxx) Apollo Management Holdings GP, LLC and supplements and amends the Statement on Schedule 13D filed on February 26, 2016 (the “Initial Schedule 13D”).

 

Unless otherwise indicated, capitalized terms used but not otherwise defined herein shall have the meaning assigned to such terms in the Initial Schedule 13D.

 

Responses to each item of this Statement on Schedule 13D/A are incorporated by reference into the response to each other item, as applicable.

 

Item 1.   Security and Issuer

 

Item 2.   Identity and Background

 

Item 3.   Source and Amount of Funds or Other Consideration

 

Item 4.   Purpose of Transaction

 

Item 4 is hereby amended and supplemented with the following:

 

On June 8, 2016, Capital Management delivered to the Issuer a letter agreement (the “Commitment Letter”) pursuant to which Capital Management, on behalf of certain funds and managed accounts, agreed to purchase $14,024,860 of equity securities of the Issuer at or immediately prior to the closing of a private placement.   Capital Management will fund the commitment at or immediately prior to the Closing. Such equity securities shall consist of equity securities of the same class of securities and at the same per-security price as Issuer issues to purchasers in the private placement.

 

Capital Management’s obligations under the Commitment Letter to fund its commitment automatically and immediately terminate after 11:59 p.m. on June 30, 2016 and are subject to the satisfaction of certain conditions, including the terms and conditions of the private placement. The summary of the Commitment Letter herein is not intended to be complete and is qualified in its entirety by reference to the full text of the Commitment Letter, attached hereto as Exhibit 2.

 

Other than as discussed above and in the Initial Schedule 13D, the Reporting Persons do not have any plans or proposals that would have any of the effects listed in Item 4(a)-(j) of Schedule 13D.

 

32



 

As described in the Issuer’s Form 8-K filed June 10, 2016, other stakeholders of the Issuer separately have entered into commitment letters that in each case are substantially similar to the Commitment Letter.  The Reporting Persons expressly disclaim the existence of any “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, and Rule 13d-5 promulgated thereunder, between themselves or with any other stakeholders in the Issuer, and the entry into the Commitment Letter and this Schedule 13D/A shall not be construed as an admission that any Reporting Person is a member of a group with any such stakeholder, or any other person, or that the Reporting Persons beneficially own any shares of Common Stock beneficially owned by any other stakeholder, or any other person.

 

Item 5.         Interest in Securities of the Issuer

 

Item 6.         Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

 

Item 6 is hereby amended and supplemented with the following:

 

The information provided above in Item 4 of this Schedule 13D/A is incorporated by reference into this Item 6.

 

Item 7.   Material to be Filed as Exhibits

 

Exhibit 2:

Equity Financing Commitment Letter, dated as of June 8, 2016, from Apollo Capital Management, L.P. to Genco Shipping and Trading Limited.

 

33



 

SIGNATURES

 

After reasonable inquiry and to the best knowledge and belief of each of the undersigned, each of the undersigned certifies that the information set forth in this statement with respect to such person is true, complete and correct.

 

Dated:  June 10, 2016

 

 

APOLLO CENTRE STREET PARTNERSHIP, L.P.

 

 

 

By:

Apollo Centre Street Advisors (APO DC), L.P.

 

 

its general partner

 

 

 

 

 

By:

Apollo Centre Street Advisors (APO DC-GP), LLC

 

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

Joseph D. Glatt

 

 

 

 

Vice President

 

 

 

 

 

 

 

 

 

 

 

APOLLO CENTRE STREET MANAGEMENT, LLC

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

 

 

 

 

 

 

APOLLO FRANKLIN PARTNERSHIP, L.P.

 

 

 

 

By:

Apollo Franklin Advisors (APO DC), L.P.

 

 

its general partner

 

 

 

 

 

By:

Apollo Franklin Advisors (APO DC-GP), LLC

 

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

Joseph D. Glatt

 

 

 

 

Vice President

 

 

 

 

 

 

 

 

 

 

 

APOLLO FRANKLIN MANAGEMENT, LLC

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

34



 

 

APOLLO CREDIT OPPORTUNITY TRADING FUND III LP

 

 

 

By:

Apollo Credit Opportunity Fund III LP

 

 

its general partner

 

 

 

 

 

By:

Apollo Credit Opportunity Advisors III (APO FC) LP

 

 

 

its general partner

 

 

 

 

 

 

 

By:

Apollo Credit Opportunity Advisors III

 

 

 

 

(APO FC) GP LLC

 

 

 

 

its general partner

 

 

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

 

Joseph D. Glatt

 

 

 

 

 

Vice President

 

 

 

 

 

APOLLO CREDIT OPPORTUNITY FUND III LP

 

 

 

By:

Apollo Credit Opportunity Advisors III (APO FC) LP

 

 

its general partner

 

 

 

 

 

By:

Apollo Credit Opportunity Advisors III (APO FC) GP LLC

 

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

Joseph D. Glatt

 

 

 

 

Vice President

 

 

 

 

 

 

 

 

APOLLO CREDIT OPPORTUNITY FUND (OFFSHORE) III LP

 

 

 

By:

Apollo Credit Opportunity Advisors III (APO FC) LP

 

 

its general partner

 

 

 

 

 

By:

Apollo Credit Opportunity Advisors III (APO FC) GP LLC

 

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

Joseph D. Glatt

 

 

 

 

Vice President

 

 

 

 

 

 

 

 

 

 

 

APOLLO CREDIT OPPORTUNITY MANAGEMENT III LLC

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

35



 

 

AEC (LUX) S.Á.R.L.

 

 

 

By:

Apollo European Credit Management, L.P.

 

 

its investment manager

 

 

 

 

 

By:

Apollo European Credit Management, LLC

 

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

Joseph D. Glatt

 

 

 

 

Vice President

 

 

 

 

 

 

APOLLO EUROPEAN CREDIT MANAGEMENT, L.P.

 

 

 

By:

Apollo European Credit Management, LLC

 

 

its general partner

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

Joseph D. Glatt

 

 

 

Vice President

 

 

 

 

 

 

 

 

 

 

 

APOLLO EUROPEAN CREDIT MANAGEMENT, LLC

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

 

 

 

 

AES (LUX) S.Á.R.L.

 

 

 

 

By:

Apollo European Strategic Management, L.P.

 

 

its investment manager

 

 

 

 

 

 

By:

Apollo European Strategic Management, LLC

 

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

Joseph D. Glatt

 

 

 

 

Vice President

 

 

 

 

 

 

 

 

 

 

 

APOLLO EUROPEAN STRATEGIC MANAGEMENT, L.P.

 

 

 

By:

Apollo European Strategic Management, LLC

 

 

its general partner

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

Joseph D. Glatt

 

 

 

Vice President

 

36



 

 

APOLLO EUROPEAN STRATEGIC MANAGEMENT, LLC

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

 

 

 

 

 

APOLLO SPECIAL OPPORTUNITIES

 

MANAGED ACCOUNT, L.P.

 

 

 

 

By:

Apollo SOMA Advisors, L.P.

 

 

its general partner

 

 

 

 

 

 

By:

Apollo SOMA Capital Management, LLC

 

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

Joseph D. Glatt

 

 

 

 

Vice President

 

 

 

 

 

 

 

 

APOLLO SOMA ADVISORS, L.P.

 

 

 

 

By:

Apollo SOMA Capital Management, LLC

 

 

its general partner

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

Joseph D. Glatt

 

 

 

Vice President

 

 

 

 

 

 

 

APOLLO SOMA CAPITAL MANAGEMENT, LLC

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

 

 

 

 

APOLLO PRINCIPAL HOLDINGS II, L.P.

 

 

 

 

By:

Apollo Principal Holdings II GP, LLC

 

 

its general partner

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

Joseph D. Glatt

 

 

 

Vice President

 

37



 

 

APOLLO PRINCIPAL HOLDINGS II GP, LLC

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

 

 

 

 

 

APOLLO SVF MANAGEMENT, L.P.

 

 

 

By:

Apollo SVF Management GP, LLC

 

 

its general partner

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

Joseph D. Glatt

 

 

 

Vice President

 

 

 

 

 

 

 

APOLLO SVF MANAGEMENT GP, LLC

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

 

 

 

 

ANS U.S. HOLDINGS LTD.

 

 

 

 

By:

Apollo SK Strategic Investments, L.P.

 

 

its sole member-manager

 

 

 

 

 

 

By:

Apollo SK Strategic Advisors GP, L.P.

 

 

 

its general partner

 

 

 

 

 

 

 

By:

Apollo SK Strategic Advisors, LLC

 

 

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

 

Joseph D. Glatt

 

 

 

 

 

Vice President

 

 

 

 

 

APOLLO SK STRATEGIC INVESTMENTS, L.P.

 

 

 

 

By:

Apollo SK Strategic Advisors, L.P.

 

 

its general partner

 

 

 

 

 

 

By:

Apollo SK Strategic Advisors, LLC

 

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

Joseph D. Glatt

 

 

 

 

Vice President

 

38



 

 

APOLLO SK STRATEGIC MANAGEMENT, LLC

 

 

 

By:

Apollo Capital Management, L.P.

 

 

its sole member

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

Joseph D. Glatt

 

 

 

Vice President

 

 

 

 

 

APOLLO ZEUS STRATEGIC INVESTMENTS, L.P.

 

 

 

 

By:

Apollo Zeus Strategic Advisors, L.P.

 

 

its general partner

 

 

 

 

 

 

By:

Apollo Zeus Strategic Advisors, LLC

 

 

 

its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

 

Joseph D. Glatt

 

 

 

 

Vice President

 

 

 

APOLLO ZEUS STRATEGIC MANAGEMENT, LLC

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

 

 

 

 

APOLLO CAPITAL MANAGEMENT, L.P.

 

 

 

By:

Apollo Capital Management GP, LLC

 

 

its general partner

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

Joseph D. Glatt

 

 

 

Vice President

 

 

 

 

 

APOLLO CAPITAL MANAGEMENT GP, LLC

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

39



 

 

APOLLO MANAGEMENT HOLDINGS, L.P.

 

 

 

By:

Apollo Management Holdings GP, LLC

 

 

its general partner

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

 

 

Joseph D. Glatt

 

 

 

Vice President

 

 

 

 

 

APOLLO MANAGEMENT HOLDINGS GP, LLC

 

 

 

By:

/s/ Joseph D. Glatt

 

 

Joseph D. Glatt

 

 

Vice President

 

40


EX-2 2 a16-13196_1ex2.htm EX-2

Exhibit 2

 

 

June 8, 2016

 

Genco Shipping & Trading Limited

299 Park Avenue, 12th Floor

New York, NY 10171

 

Re:                                       Equity Financing Commitment

 

Gentlemen:

 

This letter agreement (this “Agreement”) sets forth the commitment of the entities listed on Exhibit A hereto (each such entity being an “Investor”) to purchase, or cause an assignee permitted by paragraph 2 of this Agreement to purchase, equity securities of Genco Shipping & Trading Limited, a Marshall Islands corporation (“Genco”), at or immediately prior to the closing (the “Closing”) of a private placement of equity securities of Genco (the “Private Placement”) on the terms and conditions set forth herein and such other terms and conditions as are satisfactory to each Investor in its sole discretion. The Investor acknowledges and agrees that the Private Placement will be a private placement under the Securities Act of 1933, as amended, for which the investor will give customary representations and warranties.

 

1.                                      On the terms and conditions set forth herein and such other terms and conditions for the Private Placement as are satisfactory to each Investor in its sole discretion, each Investor hereby commits to purchase, or cause an assignee permitted by paragraph 2 of this Agreement to purchase, directly or indirectly, at or immediately prior to the Closing the minimum dollar amount of equity securities of Genco set forth opposite such Investor’s name on Exhibit A to this Agreement (such Investor’s “Commitment”). Each Investor will fund the Commitment at or immediately prior to the Closing. Such equity securities shall consist of equity securities of the same class of securities and at the same per-security price as Genco issues to purchasers in the Private Placement.

 

2.                                      This Agreement and the obligation of each Investor to fund its Commitment, or cause its Commitment to be funded, shall automatically and immediately terminate after 11:59 p.m. on June 30, 2016. Paragraphs 2, 3, 4 and 8 shall remain in full force and effect, notwithstanding any termination of this Agreement. The Commitments set forth herein shall not be assignable by Genco without the applicable Investor’s prior written consent, and the granting of such consent in a given instance shall be solely in the discretion of such Investor and, if granted, shall not constitute a waiver of this requirement as to any subsequent assignment. The obligations of an Investor hereunder shall not be assignable by such Investor without Genco’s prior written consent, and the granting of such consent in a given instance shall be solely in the discretion of Genco and, if granted, shall not constitute a waiver of this requirement as to any subsequent assignment; provided that an Investor may assign one or more portions of its Commitment to any of its Affiliates and/or to any fund or entity advised by such Investor or its Affiliates; provided further, that no such assignment by an Investor shall relieve such Investor of any of its

 



 

obligations hereunder. For purposes hereof, “Affiliates,” in relation to a person or entity, means any other person or entity which, directly or indirectly, controls, or is controlled by, or is under common control with, such person or entity; and “control” means the possession, directly or indirectly, of the power to direct or cause the direction of management or policies of a person, whether through the ownership of securities or partnership or other ownership interest, by contract or otherwise. Any transfer or assignment in violation of the preceding three sentences shall be null and void. This Agreement sets forth the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior arrangements and understandings with respect thereto.

 

3.                                      This Agreement is solely for the benefit of the parties hereto and is not intended to, nor does it, confer any benefits on, or create any rights or remedies in favor of, any other person or entity.

 

4.                                      Each party acknowledges and agrees that (a) this Agreement is not intended to, and does not, create any agency, partnership, fiduciary or joint venture relationship between or among any of the parties hereto and neither this Agreement nor any other document or agreement entered into by any party hereto relating to the subject matter hereof shall be construed to suggest otherwise and (b) the obligations of the Investor under this Agreement are solely contractual and not fiduciary in nature.

 

5.                                      The funding of the Commitment of each Investor under this Agreement shall be subject to the satisfaction or waiver by such Investor, prior to the Closing, of the following conditions:

 

(a)                                 There shall not have occurred any event, occurrence, revelation or development of a state of circumstances or facts since the date hereof which, individually or in the aggregate, has had a material adverse effect on Genco’s financial condition, business, assets or results of operation.

 

(b)                                 No applicable law or regulation shall prohibit the funding of the Commitment or the consummation of the Private Placement, and a customary legal opinion on the validity and legality of the securities shall have been delivered to the Investor.

 

(c)                                  All actions by or in respect of, or filings with, any governmental or regulatory authority required as of the date of funding of the Commitment to permit such funding and the consummation of the Private Placement shall have been taken, made or obtained.

 

(d)                                 Concurrently with such funding, affiliates of Centerbridge Partners, L.P. and Strategic Value Partners, LLC shall fund their Commitments for the Private Placement by purchasing equity securities of the same class and at the same per-security price and upon the same terms and conditions as the securities purchased by the Investor.

 

(e)                                  All terms and conditions of, including without limitation the size of the offering, and definitive documentation for, the Private Placement shall be acceptable to each Investor in its sole discretion.

 

6.                                      The Investor hereby represents and warrants with respect to itself to Genco that (a) it has all limited partnership, limited liability company, corporate or other organizational power and authority to execute, deliver and perform this Agreement; (b) the execution, delivery and performance of this Agreement by the Investor has been duly and validly authorized and approved by all necessary limited partnership, limited liability company, corporate or other organizational action by it; (c) this Agreement has been duly and validly executed and delivered by it and, assuming due and valid authorization, execution and delivery by the other parties hereto, constitutes a valid and legally binding obligation of it; enforceable against it in accordance with the terms of this Agreement except as such enforceability may

 

2



 

be limited under applicable bankruptcy, insolvency, moratorium, reorganization or similar laws from time to time in effect affecting the enforcement of creditors’ rights generally, or by general principles of equity; (d) it has and will have for so long as this Agreement shall remain in effect uncalled capital commitments or otherwise will have available funds sufficient to fund the amount of its Commitment when and as required hereunder; and (e) all consents, approvals, authorizations, permits of, filings with and notifications to, any governmental authority or other third party necessary for the due execution, delivery and performance of this Agreement by the Investor have been obtained or made and all conditions thereof have been duly complied with, and no other action by, and no notice to or filing with, any governmental authority or other third party is required in connection with the execution, delivery or performance of this Agreement.

 

7.                                      This Agreement may not be amended or otherwise modified without the prior written consent of Genco and the Investor.

 

8.

 

(a)                                 THE AGREEMENT AND ALL ACTIONS (WHETHER AT LAW, IN CONTRACT OR IN TORT) THAT MAY BE BASED UPON, ARISE OUT OF OR RELATE TO THIS AGREEMENT, OR THE NEGOTIATION, EXECUTION OR PERFORMANCE HEREOF SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the New York State courts located in the City and County of New York and the United States District Court for the Southern District of New York for the purpose of any action arising out of or relating to this Agreement, and each of the parties hereto irrevocably agrees that all claims in respect of such action may be heard and determined exclusively such courts. Each of the parties hereto agrees that a final judgment in any action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable law. Each of the parties hereto irrevocably consents to the service of any summons and complaint and any other process in any other action relating to the Commitment or this Agreement, on behalf of itself or its property, by the personal delivery of copies of such process to such party. Nothing in this paragraph 8(a) shall affect the right of any party hereto to serve legal process in any other manner permitted by applicable law.

 

(b)                                 EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION, DIRECTLY OR INDIRECTLY, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH 8(b).

 

3



 

9.                                 This Agreement and any signed agreement or instrument entered into in connection with this Agreement, and any amendments or waivers hereto or thereto, to the extent signed and delivered by means of a facsimile machine or by e-mail delivery of a “.pdf” format data file, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine or e-mail delivery of a “.pdf” format data file to deliver a signature to this Agreement or any amendment hereto or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or e-mail delivery of a “.pdf” format data file as a defense to the formation of a contract and each party hereto forever waives any such defense.

 

10.                          This Agreement may be executed in any number of counterparts, each such counterpart being deemed to be an original instrument, and all such counterparts shall together constitute the same agreement

 

11.                          The obligations of the Investors hereunder shall be several and not joint.

 

[Signature page follows.]

 

4



 

If this Agreement is agreeable to you, please so indicate by signing in the space indicated below.

 

 

Very truly yours,

 

 

 

 

 

APOLLO CAPITAL MANAGEMENT, L.P.

 

 

 

By: Apollo Capital Management GP, LLC,

 

                    its general partner

 

 

 

 

 

 

 

By:

/s/ Joseph D. Glatt

 

Name:

Joseph D. Glatt

 

Title:

Vice President

 

 

Accepted and agreed as of the date first set forth above:

 

 

GENCO SHIPPING & TRADING LIMITED

 

 

By:

/s/ John C. Wobensmith

 

 

Name:

John C. Wobensmith

 

 

Title:

President

 

 

 

Signature Page to Equity Commitment Letter

 



 

Exhibit A

 

Investor Name

 

Commitment

 

 

 

 

 

Apollo Capital Management, L.P., on behalf of certain funds and managed accounts

 

$

14,024,860

 

 

 

 


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