International Seaways, Inc. announces the successful placement of $250 million of new senior unsecured bonds in the Nordic bond market.
The newly issued bonds are due to mature in September 2030 and will have a fixed coupon of 7.125% per annum, payable semi-annually in arrears.
Proceeds from the bond issue will be used for refinancing the Ocean Yield sale-and-leaseback agreement and general corporate purposes.
Bond Details
$250 million of new senior unsecured bonds placed in the Nordic bond market with a fixed coupon of 7.125% per annum.
Use of Proceeds
Proceeds intended for refinancing the Ocean Yield sale-and-leaseback agreement and for general corporate purposes.
Market Listing
Application will be made for the bonds to be listed on the Oslo Stock Exchange.
- The successful placement of the bonds indicates investor confidence in International Seaways, Inc.'s financial stability and growth prospects.
- Refinancing the Ocean Yield sale-and-leaseback agreement will likely optimize the company's debt structure and contribute to future profitability.
International Seaways' strategic move in issuing senior unsecured bonds demonstrates a strong financial position and proactive approach to managing corporate financing. The market listing and intended use of proceeds align with the company's growth objectives and financial management strategy.