Scorpio Tankers announced that it has received a commitment from DekaBank Deutsche Girozentrale for a credit facility of up to $94 million.
The credit facility will be used to finance one MR product tanker and three LR2 product tankers. The credit facility has a final maturity of five years from the drawdown date of each vessel and bears interest at SOFR plus a margin of 1.70% per annum.
The terms and conditions of this credit facility, including financial covenants, are similar to those set forth in the Company’s existing credit facilities. The credit facility is subject to customary conditions precedent, and the execution of definitive documentation, and is expected to close within the third quarter of 2023.