| Home : Scorpio Tankers Inc. Announces a Commitment for a New Loan Facility |
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May 07
2016 |
Scorpio Tankers Inc. Announces a Commitment for a New Loan Facility |
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MONACO --(Marketwired - May 06, 2016) - Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that the Company has received a commitment from NIBC Bank N.V. for a loan facility of up to $44.0 million. The loan facility will be used to refinance the existing indebtedness on two MR product tankers (2013 built), has a final maturity of five years from the signing date and bears interest at LIBOR plus a margin of 2.50% per annum. The availability can be used to finance the lesser of $22.0 million and 67.5% of the fair market value of the respective vessels. The loan facility is subject to customary conditions precedent and the execution of definitive documentation. |
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| Source:http://www.marketwired.com/mw/release.do?id=2122417&sourceType=3 |
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