Overseas Shipholding Group, Inc. (NYSE:OSG) Files An 8-K Termination of a Material Definitive AgreementItem 1.02. Termination of a Material Definitive Agreement.
The information set forth in Item 8.01 of this current report is incorporated herein by reference into this Item 1.02.
Item 8.01. Other Events.
On December 27, 2017, Overseas Shipholding Group, Inc. (the “Company”) completed the satisfaction and discharge (the “Satisfaction and Discharge”) of the Indenture, dated as of March 29, 2010 (as amended and supplemented to the date hereof, the “Existing Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), which governs the Company’s 8⅛% Senior Notes Due 2018 (the “Existing Notes”). In connection with the Satisfaction and Discharge, the Company has irrevocably deposited funds with the Trustee sufficient to pay the principal plus accrued and unpaid interest on all of the outstanding Existing Notes that will be due and payable on their maturity date of March 30, 2018. As of December 27, 2017, there were $26,417,460 aggregate principal amount of the Existing Notes outstanding. Following the Satisfaction and Discharge, the Indenture ceases to be of further effect (except with respect to those obligations that the Indenture provides shall survive the Satisfaction and Discharge).
