International Seaways repays $17.75M term loan and terminates Macquarie facility

International Seaways, Inc.

Term loan facility originally $20M, outstanding balance $17.75M, repaid in full and terminated on Nov 17, 2022.
Facility dated September 30, 2021, with Macquarie Bank Limited as lender; INSW as parent guarantor.
Terminated in accordance with its terms after full repayment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

International Seaways, Inc. terminated Term Loan Facility with Macquarie Bank Limited, London Branch valued at $20 million (effective 2022-11-17).

Action: termination
Agreement: credit facility
Counterparty: Macquarie Bank Limited, London Branch
Value: $20 million
Effective: 2022-11-17

Exact text from the filing

On November 17, 2022, the previously disclosed secured Term Loan Facility dated September 30, 2021 by and among International Seaways, Inc. (as parent guarantor), Seaways Shipping II Corporation, a wholly-owned subsidiary of INSW (as guarantor), and three subsidiaries of Seaways Shipping II Corporation (as joint and several borrowers), for a $20 million term loan facility with Macquarie Bank Limited, London Branch, as lender, arranger, facility agent and security agent , which had an outstanding balance of $17.75 million, was repaid in full and terminated in accordance with its terms.

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Source: SEC EDGAR

accession 0001104659-22-119929

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