Scorpio Tankers has taken on a new $500m revolving credit facility that features an unusually long maturity and low interest margin.
The debt is incremental to the owner’s existing loans, and Scorpio has pledged as collateral 26 product tankers that previously had been unencumbered.
The Emanuele Lauro-led, New York-listed product tanker giant did not identify the banks that are extending the financing.
