International Seaways, Inc. (INSW): debt financing — International Seaways issues $250M of 7.125% senior unsecured bonds due 2030

International Seaways, Inc.

$250M aggregate principal, 7.125% coupon, maturity September 23, 2030; interest paid semi-annually.
Net proceeds to fund repurchase of six VLCCs under existing lease financing; tender notices set for November 2025.
Redemption at 100% plus make-whole premium before March 2028; after that step-down from 103.5625%.
Financial covenants include minimum liquidity ($50M or 5% of total debt) and max leverage ratio of 0.65:1.
Change-of-control put at 101% of par; bonds unlisted but application made to Oslo Børs.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

International Seaways, Inc. incurred senior notes of $250 million aggregate principal amount at 7.125% per year maturing 2030.

Instrument: senior notes
Principal: $250 million aggregate principal amount
Rate: 7.125% per year
Maturity: 2030
Event: incurrence

Exact text from the filing

On September 23, 2025, International Seaways, Inc. (the “ Company ”) issued $250 million aggregate principal amount of 7.125% senior unsecured bonds due 2030 (the “ 2030 Bonds ”), at an issue price of 100%.

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International Seaways, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-093913

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