Scorpio Tankers has sealed a $94m financing deal with Germany’s DekaBank Deutsche Girozentrale for four of its vessels, says an article published on their website.
LR2 product tankers
The Monaco-headquartered owner and operator of 113 tankers said the proceeds would be used to finance one MR and three LR2 product tankers.
The company agreed to a margin of 1.7% over the Secured Overnight Financing Rate (SOFR).
Expensive lease financing
The deal is expected to close in the third quarter, with the loan maturing over five years from the drawdown date of each vessel.
Last month, the Emanuele Lauro-led company revealed talks with a group of banks for a term loan and revolving loan of up to $750m to $1bn that would enable it to repay and re-finance more expensive lease financing, along with financing certain of its unencumbered vessels.
Scorpio had also earlier executed or received commitments for three separate refinancing deals of around $391m in aggregate, which are expected to be collateralised by 22 vessels.
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Source: Splash
