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.

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