Scorpio Tankers to Raise USD 334 Mn of New Liquidity

Image Courtesy: Scorpio Tankers

Monaco-based shipowner Scorpio Tankers is looking to raise up to USD 334 million through a series of bank loans and sale leasebacks.

The company signed term sheets or agreed main terms for the loans to refinance certain of its outstanding secured indebtedness.

If finalized, the transactions would raise USD 334 million in aggregate of new liquidity after the repayment of the existing secured debt related to these vessels.

Scorpio Tankers said that the terms and conditions of the credit facilities and lease financing arrangements, including covenants, pricing, and advance rates, are similar to those in the company’s existing credit facilities and lease financing arrangements.

The new credit facilities and lease financing arrangements are subject to credit approval, customary conditions precedent and the execution of definitive documentation.

Scorpio Tankers unveiled the new agreements as part of financial report for the three months ended March 31, 2018. The company delivered a net loss of USD 31.8 million for the period, compared to a net loss of USD 11.5 million reported in the same quarter a year earlier.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Posidonia 2018

Posidonia, the international shipping exhibition, has long been established as one of the major calendar events…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

THE 7TH EDITION OF NAVALIA, INTERNATIONAL SHIPBUILDING EXHIBITION 2018

The event wanted to be from the beginning a reference for the naval sector and to serve as a tool to attract investors and contracts for the industry…

read more >

BlueWeek2018

The BlueWeek2018 will be held on 28-29-30 May in Rotterdam, under the auspices of the Blue Forum…

read more >