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Published on 1/28/2020 in the Prospect News Liability Management Daily and Prospect News Private Placement Daily.

International Seaways repurchases 10¾% subordinated notes due 2023

By Wendy Van Sickle

Columbus, Ohio, Jan. 28 – International Seaways, Inc. repurchased its $30 million 10¾% subordinated step-up notes due 2023 with some proceeds of $390 million of new credit agreements, according to a news release on Tuesday.

The company issued the notes in a June 2018 private placement to accounts managed by BlackRock, Inc. as part of the financing for its acquisition of six VLCC tankers from Euronav NV.

International Seaways is a New York City-based oil and petroleum shipping company.


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