International Seaways Inc.
Description
Energy transport tanker company closed on new $500 million accordion term loan and $50 million revolving credit facility. Term loan proceeds will refinance $458 million outstanding balance of existing term loan and support general corporate purposes. Term loan matures June 22, 2022, and facility matures Dec. 22, 2021. Jefferies Finance LLC and JP Morgan Chase Bank NA were joint lead arrangers, and UBS Securities LLC was joint book-runner for term loan. DNB Markets Inc., Fearnley Securities AS, Pareto Securities Inc. and Skandinaviska Enskilda Banken AB (Publ) were co-managers for term loan. Skandinaviska provided the credit facility.