International Seaways, Inc. (NYSE:INSW) Files An 8-K Other Events
Item 8.01
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Other Events.
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On June 22, 2017, International Seaways, Inc. (the “Company”)
issued a press release announcing that it had closed on a $500
million Term Loan and $50 million Revolving Credit Facility.
Proceeds from the Term Loan will be used to refinance the $458
million outstanding balance of the Company’s existing Term Loan,
and for general corporate purposes including fleet renewal and
growth. The Revolving Credit Facility is currently undrawn. A
copy of the press release is attached hereto as Exhibit 99.1.
Section 9 – Financial Statements and Exhibits.
Item 9.01 |
Financial Statements and Exhibits.
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Exhibit No. |
Description |
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99.1 |
Press Release dated June 22, 2017. |
International Seaways, Inc. ExhibitEX-99 2 exhibit99.htm PRESS RELEASE INTERNATIONAL SEAWAYS ANNOUNCES CLOSING OF NEW $500 MILLION TERM LOAN AND $50 MILLION REVOLVING CREDIT FACILITY Successful Refinancing Significantly Extends Maturities,…To view the full exhibit click here About International Seaways, Inc. (NYSE:INSW)
International Seaways, Inc. and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers. Its 55-vessel fleet consists of Ultra Large Crude Carrier (ULCC), Very Large Crude Carrier (VLCC), Aframax and Panamax crude tankers, as well as long range 1 (LR1), LR2 and medium range (MR) product carriers. Its International Crude Tankers segment is made up of a ULCC and a fleet of VLCCs, Aframaxes, and Panamaxes. Its International Product Carriers segment consists of a fleet of MRs, LR1s and an LR2 engaged in the transportation of crude and refined petroleum products. Through joint venture partnerships (the JVs), it has ownership interests in approximately four liquefied natural gas carriers and approximately two floating storage and offloading service vessels.