Scorpio Tankers has clinched a previously disclosed $223.6m prepayment under its $1bn credit facility that will allow it to slash the daily financial breakeven cost for its fleet over the next two years.
The New York-listed product tanker giant said on Monday that majority lenders gave approval for the unscheduled payment to be made in June. This will allow the cash breakeven rate to plunge to about $12,500 per day over the next year from about $16,000.
