International Seaways issues $250 million of 7.125% bonds due 2030
International Seaways issued $250 million of 7.125% senior unsecured bonds due September 23, 2030, at 100% of face value. The company says it will use the proceeds to repurchase six VLCCs under an existing lease financing arrangement and for general corporate purposes, with purchase options to be exercised in November 2025. The bonds add $250 million of debt and come with financial covenants, including a minimum free liquidity level and a net indebtedness ratio cap.
Key points
- Issued $250 million of 7.125% senior unsecured bonds on September 23, 2025, at an issue price of 100%
- Interest is payable semi-annually on March 23 and September 23, starting March 23, 2026; maturity is September 23, 2030
- Proceeds fund repurchase of six VLCCs under an existing lease financing arrangement and general corporate purposes
- Covenants require free liquidity of the greater of $50 million and 5% of total indebtedness, and net indebtedness to total capitalization below 0.65 to 1.00
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 26, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.