Scorpio Tankers Inc.: Announces a Signed Commitment Letter for a $267 Million Credit Facility

Scorpio Tankers Inc. announced yesterday that it has signed a commitment letter for a $267.0 million credit facility ("2013 Credit Facility") with Nordea Bank Finland plc, acting through its New York branch, ABN AMRO Bank N.V, and Skandinaviska Enskilda Banken AB.
The 2013 Credit Facility will be split into a term loan and a revolving loan and will be used to finance up to 60% of the purchase price of vessels, including newbuildings upon delivery. The credit facility matures six years after the loan is signed. Borrowings under the credit facility are available until January 31, 2015. The covenants and other conditions are similar to the Company's existing credit facilities.
Emanuele Lauro, chief executive officer and chairman of the board, commented, "We thank our lenders for their continued support of our company. This loan will finance a significant number of our vessels on order and will enable us to continue our growth strategy."
Source: Scorpio Tankers Inc.