AmericasFinance and InsuranceTankers

Scorpio Tankers secures new loan facility

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.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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