Scorpio Tankers said it struck a deal with ING Bank to hike the size of a credit facility to help it fund the purchase of a long-range (LR) tanker.
The New York-listed tanker owner said ING to increase the size of the existing loan by $45.5m, bringing the total credit line to $133m.
“We’ve really being successful in our execution of refinancing and obtaining new financing for the company at improved and better terms than the company has been able to do in the past,” Scorpio president Robert Bugbee told TradeWinds after the announcement.
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