other material
confidence high
sentiment neutral
materiality 0.25
INSW subsidiaries join $500M RCF as guarantors, pledge two MR tankers as replacement collateral
International Seaways, Inc.
- Alpha Seaways MR Tanker Corp. and Delta Seaways MR Tanker Corp. became subsidiary guarantors under the $500M credit facility.
- Each pledged one MR tanker (Seaways Wheat, Seaways Watch Hill) as collateral; both built 2015.
- Vessels replace a collateral vessel sold in Q1 2025, maintaining security for the RCF.
- Joinder executed March 21, 2025; amendment to Credit Agreement dated May 20, 2022.