secwatch.observer — SEC 8-K summary
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Issuer:     International Seaways, Inc. (INSW)
CIK:        0001679049
Form:       8-K
Filed at:   2025-09-26T23:59:59+00:00
Accession:  0001104659-25-093913
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

International Seaways issues $250M of 7.125% senior unsecured bonds due 2030
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679049/000110465925093913/0001104659-25-093913-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679049/000110465925093913/tm2527086d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-093913

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