Scorpio Announce The Exercise Of Purchase Options On Six Ships

Credit: Ian Taylor/Unsplash

Scorpio Tankers Inc. announced that it has exercised the purchase options on six ships, says an article published on their website.

Notice to exercise

The Company has given notice to exercise its purchase options on two 2016 built LR2 product tankers (STI Grace and STI Jermyn), one 2019 built LR2 product tanker (STI Lavender), two 2019 built MR product tankers (STI Magnetic and STI Marshall) and one 2020 built MR product tanker (STI Miracle).

Debt reduction

The leases bear interest at LIBOR plus a margin of 3.50% per annum.  The purchase, which is expected to occur in May 2023, will result in a debt reduction of $149.8 million for the Company.

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Source: Scorpio tankers


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