Scorpio Tankers received a commitment from Bank of America for a credit facility of up to $50 million. The credit facility will be used to finance two 2015 built LR2 product tankers, STI Rose and STI Alexis. The credit facility has a final maturity of seven years from the drawdown date of each vessel and bears interest at SOFR plus a margin of 1.20% per annum.
The remaining terms and conditions of this credit facility, including financial covenants, are similar to those set forth in the company’s existing credit facilities. The credit facility is subject to customary conditions precedent, and the execution of definitive documentation, and is expected to close within Q2/26.
