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Scorpio Tankers lines up $300m loan facility for refinancing

Scorpio Tankers have netted a new $300m loan facility to be used for refinancing.

The facility for up to $300m is with ABN AMRO Bank, Nordea Bank Finland and Skandinaviska Enskilda Banken.

Scorpio Tankers said the loan would be used to refinance debt of 16 MR product tankers.

The loan comprising a $200m term facility and a $100m revolving facility and can used to finance up to 60% of the fair market value of the vessels.

The loan has a five year maturity bears interest at LIBOR plus a margin of 2.5% a year.

Scorpio Tankers owns a fleet of 77 product tankers.

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