International Seaways enters $239.7M term loan and $91.9M revolver for six LR1 tanker newbuilds

International Seaways, Inc.

Credit facility with DNB Bank ASA composed of $239.7M term loan and $91.9M revolving credit facility.
Facilities have effective 20-year amortization and are secured by first liens on vessel-owning subsidiaries.
K-Sure insures ~70% of first four vessels and ~60% of last two, up to aggregate $239.7M.
Interest margins: 1.10% per annum for K-Sure covered tranches, 1.45% for commercial tranche.
No amounts drawn yet; first newbuilding delivery expected in late Q3 2025.

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