Monaco-headquartered Scorpio Tankers is lining up a new $225m loan which will be used to finance 13 vessels.
The Emanuele Lauro-led owner which currently owns, lease finances or bareboat charters in 113 product tankers, said it would use the proceeds to repay more expensive lease financing on 11 MRs and two LR2s.
The loan, secured from a group of European lenders, has a final maturity of five years and bears interest at SOFR plus a margin of 1.975% per annum. The deal should close in the first quarter of this year.
In December, the company also received commitments for two separate loans of up to $166.5m in aggregate to finance two handymax product tankers, three LR2s and four MR product tankers.
