Scorpio Tankers has announced that the company has received a commitment for a loan facility up to $300m from ABN AMRO Bank, Nordea Bank Finland, acting through its New York branch, and Skandinaviska Enskilda Banken AB.
The loan facility will be used to refinance the existing debt on 16 MR product tankers, and has a final maturity of five years.
The facility will comprise a term loan up to $200m and a revolver up to $100m, and the availability can be used to finance up to 60% of the fair market value of the respective vessels.
