Scorpio Tankers seals new loans worth $196m

Scorpio Tankers seals new loans worth $196m

Moanco-headquartered Scorpio Tankers has sealed deals for three separate loan facilities worth up to $195.9m, adding $53.9m of new liquidity to the company after the repayment of existing secured debt.

ABN AMRO Bank and Skandinaviska Enskilda Banken are providing a loan facility of up to $120.6m to finance up to 65% of the fair market value of a handymax product tanker, an MR product tanker and three LR2 product tankers.

Additionally, ING Bank has agreed to increase a $132.5m credit facility to $171.2m in order to finance up to 65% of the fair market value of a handymax product tanker and an MR product tanker.

Additionally, another leading European financial institution will provide a $36.7m loan facility to finance two MR product tankers.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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