Scorpio Tankers is repurchasing six vessels it previously sold under sale and leaseback arrangements.
The NYSE-listed tanker owner said it had exercised purchased on six leased MR product tankers.
The 2014-built product tankers STI Opera, STI Virtus, STI Venere, STI Aqua, STI Dama, andSTI Regina were sold and leased back Scorpio Tankers in August 2018. The company now plans to repurchase the vessels in transaction expected to take place in August this year.
The leases bear interest at LIBOR plus a margin of 3.50% per annum and Scorpio Tankers said it expects to reduce debt by $95m.
