2023-07-06 02:02:39
By Editorial PortalPortuario
@PortalPortuario
Scorpio Tankers announced that it received commitments from a group of financial institutions for a previously announced amount of USD 1,000 million in fixed-term loans and a revolving credit line.
The funds are expected to be used to finance 45 product tankers, which are currently unencumbered, and leases that carry high margins. A commitment fee of 0.78% per annum is applied to unused amounts. The plan is for the line to be paid in quarterly installments.
“We thank our lenders and their commitment to the company. There is widespread confidence among market constituents in the persistence of current fundamentals, and the competitive structure, terms and conditions of this new loan, particularly the revolving credit facility, are testament to that view, as well as the steps that we have taken recently”, valued Emanuele Lauro, President and CEO of Scorpio Tankers.
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