Corporate ActionMay 27, 2026, 06:45 AM
Scorpio Tankers to repay $367.8M debt, sell 4 LR2 tankers for $285.8M
AI Summary
Scorpio Tankers Inc. announced significant strategic financial moves, including agreements to sell four LR2 product tankers for an aggregate of $285.8 million, with closings expected in Q2 or Q3 2026. Concurrently, the company entered a letter of intent to purchase two newbuilding MR product tankers for $46.25 million each, with deliveries anticipated in Q1 2030. Most notably, Scorpio Tankers intends to make unscheduled prepayments totaling $367.8 million on several secured credit facilities, which will result in the termination of these facilities and cancellation of undrawn revolver capacity in Q2 2026.
Key Highlights
- Scorpio Tankers entered agreements to sell four LR2 product tankers for $285.8 million.
- Vessel sales (STI Broadway, STI Condotti, STI Winnie, STI Lauren) are expected to close in Q2 or Q3 2026.
- Company signed a letter of intent to purchase two MR newbuilding product tankers for $46.25 million each.
- Newbuilding deliveries are expected in the first quarter of 2030.
- Scorpio Tankers intends to make unscheduled debt prepayments totaling $367.8 million.
- Prepayments will terminate five secured credit facilities scheduled to mature in 2028.
- Company plans to permanently cancel undrawn revolver capacity under two credit facilities.
- Debt prepayments and cancellations are expected to occur in Q2 2026.
Price Impact
More from STNG