Scorpio Tankers gets $525 million facilities at Libor plus 350 bps

By Angela McDaniels

Tacoma, Wash., July 30 - Scorpio Tankers Inc. entered into a $265 million senior secured revolving credit facility and a $260 million delayed-draw term loan facility, according to a 6-K filing with the Securities and Exchange Commission.

The term loan can be drawn through Jan. 31, 2015.

The interest rate is Libor plus 350 basis points.

The company entered into the six-year facility on July 2 to finance the acquisition of some newbuilding vessels and for general corporate purposes, including working capital.

Nordea Bank Finland plc, New York Branch, ABN Amro Bank NV, Skandinaviska Enskilda Banken AB, DVB Bank America NV, HSH Nordbank AG, New York Branch, NIBC Bank NV and CIT Finance LLC were the lead arrangers. Nordea Bank Finland and ABN Amro Bank were the bookrunners. Deutsche Bank AG Filiale Deutschlandgeschaft was co-arranger.

Scorpio Tankers provides marine transportation of petroleum products. The company is based in Monaco.

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