Monaco based and NYSE-listed Scorpio Tankers Inc. announced that the company received a credit facility of up to $94 million from German DekaBank Deutsche Girozentrale.

Scorpio Tankers inform that this credit facility will be used to finance one MR product tanker and three LR2 product tankers, and that the credit facility has a final maturity of five years from the drawdown date of each vessel and bears interest at SOFR plus a margin of 1.70% per annum.

The terms and conditions of this credit facility, including financial covenants, are similar to those set forth in the company’s existing credit facilities it mentions, and the credit facility is expected to be closed within the third quarter of 2023.

Scorpio Tankers Inc. Presently owns, lease finances or bareboat charters-in totally 113 product tankers, whereby it is consisting of 39 LR2 tankers, 60 MR tankers and 14 Handymax tankers with an average age of 7.4 years.