International Seaways, Inc. and Certain of Its Subsidiaries, Including International Seaways Operating Corporation Enters into Technical Amendment to Credit Agreement
January 03, 2022 at 04:30 pm EST
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On December 30, 2021, International Seaways, Inc. and certain of its subsidiaries, including International Seaways Operating Corporation. (the “Borrower”) entered into a technical amendment to a credit agreement dated as of January 23, 2020, as amended from time to time, initially comprising $390 million of secured debt facilities, with Nordea Bank Abp, New York Branch (as administrative agent, collateral agent and security trustee) and the other lenders thereunder. The amendment revised the allocation of and mechanics relating to mandatory prepayments made in connection with vessel sales and certain other events.
International Seaways, Inc. is a tanker company engaged in providing energy transportation services for crude oil and petroleum products in international flag markets. The Company operates through two segments: Crude Tankers and Product Carriers. The Crude Tankers segment is made up of a fleet of VLCCs, Suezmaxes, and Aframaxes engaged in the worldwide transportation of crude oil. This segment also includes its Crude Tankers Lightering business through which it provides ship-to-ship (STS) lightering support services and full-service STS lightering to customers in the United States Gulf (USG), United States Pacific, Grand Bahama, and Panama regions. The Product Carriers segment consists of a fleet of MRs, LR1 product carriers, and an LR2 product carrier engaged in the worldwide transportation of refined petroleum products. It owns and operates a fleet of about 77 vessels, including 13 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, 11 LR1s, of which four are new buildings, and 35 MR tankers.
International Seaways, Inc. and Certain of Its Subsidiaries, Including International Seaways Operating Corporation Enters into Technical Amendment to Credit Agreement
INTERNATIONAL SEAWAYS, INC. 
