New York-listed Scorpio Tankers has conditionally upsized an earlier debt refinancing to as much as $372m, it emerged today.
A so-called “accordion” feature of up to $72m has been added to the $300m borrowing Scorpio announced on 6 July, covering 16 of its products tankers.
The add-on is predicated on further vessels being posted as security and additional lenders entering the picture. Exercise of the full $72m likely would entail adding four more tankers.
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