Scorpio Tankers announces sale and leaseback agreements for five 2012 built MR Product Tankers
Scorpio Tankers Inc. announced that it has agreed to sell and leaseback five 2012 built MR product tankers to Bank of Communications Financial Leasing Co., Ltd. As of today, three of the five transactions have been completed, which has increased the Company’s liquidity by approximately $21 million in aggregate after the repayment of the outstanding debt.
The sales price for each vessel is $27.5 million, and the Company will bareboat charter-in the vessels for a period of seven years at $9,025 per day per vessel. The Company also has three one-year options to extend the bareboat charter agreements beyond the initial term. In addition, Scorpio Tankers has purchase options beginning at the end of the fifth year and until the end of the agreements.