EuropeFinance and InsuranceTankers

Scorpio Tankers seals $44m loan for refinancing of MR pair

NYSE-listed Scorpio Tankers announced on Friday it has received commitment for a loan facility of up to $44m from NIBC Bank.

The loan will be used to refinance existing debts on two medium-range product tankers. It has a final maturity of five years from signing date and bears interest at Libor (London Interbank Offered Rate) plus a margin of 2.50% per annum.

Scorpio, with main offices in New York and Monaco, has a fleet of almost 80 tankers. Its share price rose 5.2% on news of the loan agreement.

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Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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