Scorpio Tankers Inc. Announces Redemption of Nordic Bonds and a New Credit Facility
Rhea-AI Summary
Scorpio Tankers (NYSE:STNG) plans to redeem its 7.5% Senior Unsecured Notes due 2030 and has received a commitment for a new credit facility.
The company will redeem $200 million of notes at 106.4% of par and arrange up to $90 million of vessel financing.
Positive
- Redemption of $200 million 7.5% Senior Unsecured Notes due 2030
- Committed new credit facility of up to $90 million
- Facility finances four scrubber-fitted MR newbuilding product tankers
- Credit facility tenor up to seven years from each vessel delivery
- Interest on facility set at SOFR plus 1.20% margin
- Facility terms similar to existing Scorpio Tankers credit facilities
Negative
- Note redemption at 106.4% of par plus accrued interest
- New credit facility adds up to $90 million of debt financing
- Credit facility closing subject to conditions precedent and documentation
News Market Reaction – STNG
In the Jul 2 session, STNG gained 5.01%, reflecting a notable positive market reaction. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 18 | TCE rate update | Positive | +0.7% | Stronger disclosed TCE rates and coverage across vessel classes for Q2 2026. |
| May 27 | Asset sales & debt | Positive | -3.3% | Announced LR2 vessel sales and intention to repay secured debt maturing 2028. |
| May 12 | Convertible notes closing | Neutral | -1.6% | Closed additional 2031 convertible notes and executed concurrent stock repurchase. |
| May 07 | Convertible notes pricing | Neutral | -0.3% | Priced reopening of 2031 convertible notes with concurrent share repurchase plan. |
| May 07 | Convertible notes proposal | Neutral | -0.3% | Proposed reopening of 2031 convertible notes and related short-covering share repurchase. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent operational and financing updates have mostly seen price moves that broadly align with the news tone, with one notable negative divergence.
Key Terms
senior unsecured notes financial
make-whole price financial
credit facility financial
sofr financial
financial covenants financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
MONACO, July 01, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) (“Scorpio Tankers,” or the “Company”) announced today that it has issued a redemption notice for its
Redemption of
The Company has issued a redemption notice to redeem its outstanding
New Credit Facility
The Company has received a commitment from Standard Chartered Bank and DekaBank Deutsche Girozentrale for a credit facility of up to
The terms and conditions of the Credit Facility, including financial covenants, are similar to those set forth in the Company’s existing credit facilities. The Credit Facility is subject to customary conditions precedent, and the execution of definitive documentation, and is expected to close within the third quarter of 2026.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 79 product tankers (29 LR2 tankers, 36 MR tankers and 14 Handymax tankers) with an average age of 10.2 years. The Company has reached agreements to sell one MR product tanker and four LR2 product tankers, which are expected to close in the third quarter of 2026. The Company has also reached agreements or letters of intent for six MR newbuildings that are currently under construction with deliveries expected in 2026, 2027 and 2030, four LR2 newbuildings with deliveries expected in 2027 and 2029 and two VLCC newbuildings with deliveries expected in 2028. Additional information about the Company is available at the Company’s website www.scorpiotankers.com, which is not a part of this press release.
Forward-Looking Statements
Matters discussed in this press release may constitute forward‐looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward‐looking statements in order to encourage companies to provide prospective information about their business. Forward‐looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “target,” “project,” “likely,” “may,” “will,” “would,” “could” and similar expressions identify forward‐looking statements.
The forward‐looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company’s control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. The Company undertakes no obligation, and specifically declines any obligation, except as required by law, to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.
In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward‐looking statements include unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, expansion and growth of the Company’s operations, risks relating to the integration of assets or operations of entities that it has or may in the future acquire and the possibility that the anticipated synergies and other benefits of such acquisitions may not be realized within expected timeframes or at all, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, the impact of the current and future sanctions that may impact the transportation of petroleum products, potential liability from pending or future litigation, general domestic and international political conditions, which have and may continue to disrupt certain global shipping routes, vessel breakdowns and instances of off‐hires, and other factors. Please see the Company’s filings with the SEC for a more complete discussion of certain of these and other risks and uncertainties.
Contact Information
Scorpio Tankers Inc.
James Doyle – Head of Corporate Development & Investor Relations
Tel: +1 203-900-0559
Email: investor.relations@scorpiotankers.com
