New York-based International Seaways has sealed terms on an effective $600m refinancing of its institutional credit facility.
The Lois Zabrocky-led company is paying 550 basis points over the London interbank offered rate for the five-year lending, which has been allocated to holders in the marketplace, according to debt market sources.
International Seaways chief financial officer Jeffrey Pribor spoke generally about the deal during his appearance on a panel this morning at the annual Marine Money conference in New York, saying the financing would feature $500m firmly committed, a $50m “accordion” feature and a $50m revolving credit line.
