Scorpio Tankers amended and restated its credit facility with ING bank, increasing the borrowing capacity from $87 million to $132.5 million.

The proceeds from the upsizing were utilized to partially finance the purchase of STI Lombard and refinance the existing indebtedness on STI Osceola.

The facility bears interest at LIBOR plus a margin of 1.95% per annum. The terms and conditions, including covenants, are similar to those in the company’s existing credit facilities.