US tanker owner International Seaways has clinched a new financing arrangement of up to $380m that should ease covenant restrictions.
Nordea, ABN Amro, Credit Agricole, DNB and SEB are the lenders involved in the new loans.
The debt will be broken up into two core facilities: a five-year senior secured term loan worth up to $300m and a five-year revolving credit facility of up to $40m.
