---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-105914"
form_type: "8-K"
ticker: "INSW"
cik: "0001679049"
company_name: "International Seaways, Inc."
filed_at: "2023-10-02T23:59:59+00:00"
generated_at: "2026-06-10T06:23:18.580444+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# International Seaways enters $160M revolving credit facility; draws $50M initially

## Summary
- 5.5-year revolving facility matures March 27, 2029; secured by first lien on five vessels.
- Interest at Term SOFR + 1.90% margin; sustainability-linked pricing can adjust +/– 0.075%.
- Initial draw of $50M for general corporate purposes; $104.3M repaid under prior 2022 Credit Facility.
- As of Sept 30, total undrawn revolver capacity ~$367.4M combining new and 2022 facilities.
- Financial covenants include min liquidity $50M, max leverage ratio 0.60, and collateral coverage 135%.

## SEC filing metadata
- accession: 0001104659-23-105914
- form_type: 8-K
- ticker: INSW
- cik: 0001679049
- company_name: International Seaways, Inc.
- filed_at: 2023-10-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1679049/000110465923105914/0001104659-23-105914-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1679049/000110465923105914/tm2327425d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-105914
- JSON: https://secwatch.observer/filing/0001104659-23-105914.json
- Plain text: https://secwatch.observer/filing/0001104659-23-105914.txt

## Key facts
- Debt Financings
  International Seaways, Inc. incurred revolving credit of $160 million with Nordea Bank Abp, New York Branch at Term SOFR plus 1.90% maturing March 27, 2029.
  - Instrument: revolving credit
  - Principal: $160 million
  - Counterparty: Nordea Bank Abp, New York Branch
  - Rate: Term SOFR plus 1.90%
  - Maturity: March 27, 2029
  - Event: incurrence
  source text: ith Nordea Bank Abp, New York Branch (“ Nordea ”), ING Bank N.V., London Branch (“ ING ”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679049/000110465923105914/0001104659-23-105914-index.htm
- Material Agreements
  International Seaways, Inc. entered into Revolving Credit Agreement with Nordea Bank Abp, New York Branch, ING Bank N.V., London Branch, Crédit Agricole Corporate & Investment Bank, DNB Markets Inc., Danish Ship Finance A/S, Skandinaviska Enskilda Banken AB (PUBL) valued at $160 million (effective 2023-09-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Nordea Bank Abp, New York Branch, ING Bank N.V., London Branch, Crédit Agricole Corporate & Investment Bank, DNB Markets Inc., Danish Ship Finance A/S, Skandinaviska Enskilda Banken AB (PUBL)
  - Value: $160 million
  - Effective: 2023-09-27
  source text: On September 27, 2023, International Seaways, Inc. (the “ Company ”), International Seaways Operating Corporation (the “ Borrower ”) and certain of their subsidiaries entered into a $160 million revolving credit agreement (the “ Revolving Credit Agreement ”) with Nordea Bank Abp, New York Branch (“ Nordea ”), ING Bank N.V., London Branch (“ ING ”), Crédit Agricole Corporate & Investment Bank, and DNB Markets Inc. (or their respective affiliates), as mandated lead arrangers and bookrunners; and Danish Ship Finance A/S and Skandinaviska Enskilda Banken AB (PUBL) (or their respective affiliates), as lead arrangers.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679049/000110465923105914/0001104659-23-105914-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.