Scorpio Tankers to redeem $200 million notes and secures $90 million credit facility

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Summary · why it matters

Scorpio Tankers announced it will redeem its outstanding 7.5% Senior Unsecured Notes due 2030 and has received a commitment for a new credit facility. The notes have an aggregate principal amount outstanding of $200 million and are expected to be redeemed on July 17, 2026 at a make-whole price of 106.4 to par plus accrued interest. The company also received a commitment from Standard Chartered Bank and DekaBank Deutsche Girozentrale for a credit facility of up to $90 million to finance a portion of the purchase price of four scrubber-fitted MR newbuilding product tankers under construction at Jingjiang Nanyang Shipbuilding with deliveries in 2026 and 2027. The credit facility has a final maturity of seven years from each vessel's delivery and bears interest at SOFR plus a margin of 1.20% per annum, with terms similar to existing credit facilities and closing expected in the third quarter of 2026.

Impact on assets 2

Energy▲
Scorpio Tankers Inc
STNG
▲ PositiveCapitalrelevance

Scorpio Tankers is redeeming its $200M 7.5% notes and securing a new $90M credit facility to finance four newbuild product tankers.

Financials▲

Off-coverage companies 2

Jingjiang Nanyang Shipbuilding Co., Ltd.i
Private± MixedDemandrelevance

Jingjiang Nanyang Shipbuilding is building four tankers for Scorpio Tankers, but the article focuses on Scorpio's financing, not the shipyard's operations or order book.

DekaBank Deutsche Girozentralei
Private± Mixedrelevance