---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-055092"
form_type: "8-K"
ticker: "INSW"
cik: "0001679049"
company_name: "International Seaways, Inc."
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:00:17.670933+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# International Seaways refinances credit facility: new $500M RCF maturing 2030

## Summary
- Replaced $750M credit facility with new $500M revolving credit facility maturing Jan 31, 2030.
- At closing, $94.6M was drawn, leaving $405.4M undrawn revolver capacity.
- Interest rate is term SOFR + 185 bps, with sustainability-linked adjustments up to ±5 bps.
- Covenants include minimum liquidity of $50M or 5% of total debt, max leverage 0.60:1, and collateral value ≥135% of drawn amount.
- Facility secured by certain vessels and their earnings; quarterly reductions based on 20-year age-adjusted vessel profile.

## SEC filing metadata
- accession: 0001104659-24-055092
- form_type: 8-K
- ticker: INSW
- cik: 0001679049
- company_name: International Seaways, Inc.
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1679049/000110465924055092/0001104659-24-055092-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1679049/000110465924055092/tm249131071_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-055092
- JSON: https://secwatch.observer/filing/0001104659-24-055092.json
- Plain text: https://secwatch.observer/filing/0001104659-24-055092.txt

## Key facts
- Debt Financings
  International Seaways, Inc. amended revolving credit of $500 million with Nordea Bank Abp, New York Branch at term SOFR+185bps maturing January 31, 2030.
  - Instrument: revolving credit
  - Principal: $500 million
  - Counterparty: Nordea Bank Abp, New York Branch
  - Rate: term SOFR+185bps
  - Maturity: January 31, 2030
  - Event: amendment
  source text: amendment, the $750 Million Facility, had a remaining term loan balance of $94.6 million and undrawn revolver capacity of $257.4 million. The amended agreement consists of a $500 million revolving credit facility (the “$500 Million RCF ”) that matures on January 31, 2030. That maturity date is subject to acceleration upon the occurrence of certain events (as
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679049/000110465924055092/0001104659-24-055092-index.htm
- Material Agreements
  International Seaways, Inc. amended $500 Million RCF with Nordea Bank Abp, New York Branch valued at $500 million revolving credit facility, maturing January 31, 2030 (effective 2024-04-26).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Nordea Bank Abp, New York Branch
  - Value: $500 million revolving credit facility, maturing January 31, 2030
  - Effective: 2024-04-26
  source text: On April 26, 2024, International Seaways, Inc. (the “ Company ”), International Seaways Operating Corporation (the “ Borrower ”) and certain of their subsidiaries entered into a second amendment that amended and extended that certain credit agreement dated as of May 22, 2022, as amended from time to time (the “ $750 Million Credit Facility ”) with Nordea Bank Abp, New York Branch (“ Nordea ”), BNP Paribas, Crédit Agricole Corporate & Investment Bank (“ CA-CIB ”), DNB Markets Inc., and Skandinaviska Enskilda Banken AB (PUBL) (or their respective affiliates), as mandated lead arrangers and bookrunners; and ING Bank N.V., London Branch and Danish Ship Finance A/S and (or their respective affiliates), as lead arrangers and National Australia Bank Limited as co-arranger.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679049/000110465924055092/0001104659-24-055092-index.htm

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