Loan & DebtJul 1, 2026, 04:23 PM
Scorpio Tankers Redeems Notes, Secures New $90M Credit Facility
AI Summary
Scorpio Tankers Inc. announced it has issued a redemption notice for its outstanding $200 million 7.5% Senior Unsecured Notes due 2030, with redemption expected on July 17, 2026. Concurrently, the company secured a commitment for a new credit facility of up to $90 million from Standard Chartered Bank and DekaBank Deutsche Girozentrale. This new facility will finance a portion of the purchase price for four scrubber-fitted MR newbuilding product tankers, bearing interest at SOFR plus 1.20% per annum.
Key Highlights
- Redemption notice issued for $200 million 7.5% Senior Unsecured Notes due 2030.
- Notes expected to be redeemed on July 17, 2026, at 106.4% of par plus accrued interest.
- Secured commitment for a new credit facility of up to $90 million.
- Credit facility from Standard Chartered Bank and DekaBank Deutsche Girozentrale.
- New facility to finance four scrubber-fitted MR newbuilding product tankers.
- Interest rate for new facility is SOFR plus 1.20% per annum.
- Credit facility has a final maturity of seven years from vessel delivery.
Price Impact
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