secwatch.observer — SEC 8-K summary
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Issuer:     International Seaways, Inc. (INSW)
CIK:        0001679049
Form:       8-K
Filed at:   2023-10-02T23:59:59+00:00
Accession:  0001104659-23-105914
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

International Seaways enters $160M revolving credit facility; draws $50M initially
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679049/000110465923105914/0001104659-23-105914-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679049/000110465923105914/tm2327425d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-105914

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