Scorpio Tankers (NYSE: STNG) lines up $90M credit for new tankers
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Scorpio Tankers Inc. plans to redeem all of its 7.5% Senior Unsecured Notes due 2030 and has lined up new vessel financing. The notes total $200 million of principal and are expected to be redeemed on July 17, 2026 at a make-whole price of 106.4% of par plus accrued interest.
The company has also received a commitment for a new up to $90 million credit facility from Standard Chartered Bank and DekaBank. This seven-year facility, priced at SOFR + 1.20%, will finance four scrubber-fitted MR product tankers under construction for deliveries in 2026 and 2027.
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Insights
Scorpio refinances $200M notes and adds $90M vessel debt.
Scorpio Tankers is calling its $200 million 7.5% Senior Unsecured Notes due 2030 at a make-whole price of 106.4% of par. This retires relatively expensive debt but requires a premium payment and accrued interest at redemption on July 17, 2026.
In parallel, the company secured a committed credit facility of up to $90 million from Standard Chartered Bank and DekaBank. The loan carries interest at SOFR plus 1.20% with a seven-year tenor from each vessel’s delivery, aligning debt amortization with four scrubber-fitted MR newbuilds delivering in 2026 and 2027.
The filing notes that terms, including covenants, are similar to existing facilities and that closing is subject to customary conditions and definitive documentation, expected within Q3 2026. Actual balance-sheet impact will depend on final closing, vessel deliveries and broader fleet renewal, including announced sales of several LR2 and MR tankers.
Key Figures
Senior notes principal: $200 million
Senior notes coupon: 7.5% per annum
Redemption price: 106.4% of par
+5 more
8 metrics
Senior notes principal
$200 million
Aggregate principal of 7.5% Senior Unsecured Notes due 2030
Senior notes coupon
7.5% per annum
Interest rate on Senior Unsecured Notes being redeemed
Redemption price
106.4% of par
Make-whole redemption price on July 17, 2026
New credit facility size
Up to $90 million
Committed facility from Standard Chartered Bank and DekaBank
Credit facility margin
SOFR + 1.20%
Interest margin per annum on new credit facility
Facility tenor
7 years
Final maturity from each vessel’s delivery date
Owned vessels
79 tankers
Fleet size with 10.2-year average age
Average fleet age
10.2 years
Average age of Scorpio Tankers’ 79 product tankers
Key Terms
7.5% Senior Unsecured Notes, make-whole price, credit facility, SOFR, +2 more
6 terms
7.5% Senior Unsecured Notes financial
"The Notes have an aggregate principal amount outstanding of $200 million, bear a coupon rate of 7.5% and were originally scheduled to mature in January 2030."
make-whole price financial
"The Notes are expected to be redeemed on July 17, 2026 at a make-whole price of 106.4 to par plus accrued but unpaid interest."
A make-whole price is the cash amount an issuer must pay to bondholders when redeeming debt early to compensate them for the interest they will lose. It equals the bond’s outstanding principal plus an extra sum designed to replace the present value of remaining scheduled interest, using a set market rate. Investors care because it limits losses from early repayment, similar to getting a fair payout if a lender demands you pay off a mortgage ahead of schedule.
credit facility financial
"The Company has received a commitment from Standard Chartered Bank and DekaBank Deutsche Girozentrale for a credit facility of up to $90 million."
A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.
SOFR financial
"The Credit Facility has a final maturity of seven years from the delivery date of each vessel and bears interest at SOFR plus a margin of 1.20% per annum."
The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.
scrubber-fitted MR newbuilding product tankers technical
"The Credit Facility will be used to finance a portion of the purchase price of four scrubber-fitted MR newbuilding product tankers, which are currently under construction."
forward-looking statements regulatory
"Matters discussed in this press release may constitute forward‐looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
What debt is Scorpio Tankers (STNG) redeeming in this 6-K?
Scorpio Tankers is redeeming its 7.5% Senior Unsecured Notes with an outstanding principal of $200 million. These notes carried a 7.5% coupon and were originally scheduled to mature in January 2030 before the company issued the redemption notice.
When will Scorpio Tankers’ 7.5% Senior Unsecured Notes be redeemed?
The 7.5% Senior Unsecured Notes are expected to be redeemed on July 17, 2026. Holders will receive a make-whole price of 106.4% of par plus accrued but unpaid interest, as specified in the company’s announcement attached to the Form 6-K.
What are the key terms of Scorpio Tankers’ new $90 million credit facility?
The new credit facility is for up to $90 million from Standard Chartered Bank and DekaBank. It bears interest at SOFR plus a 1.20% margin per year, has a seven-year maturity from each vessel’s delivery date, and includes covenants similar to existing facilities.
How will Scorpio Tankers (STNG) use the new credit facility proceeds?
Scorpio Tankers intends to use the credit facility to finance part of the purchase price of four scrubber-fitted MR newbuilding product tankers. These vessels are under construction in China, with deliveries expected in 2026 and 2027, supporting the company’s fleet renewal plans.
How large is Scorpio Tankers’ fleet according to this filing?
Scorpio Tankers reports owning 79 product tankers with an average age of 10.2 years. The fleet includes 29 LR2, 36 MR, and 14 Handymax tankers, alongside agreed sales of one MR and four LR2 tankers expected to close in the third quarter of 2026.
What additional growth projects does Scorpio Tankers mention in this 6-K?
The company highlights six MR newbuildings, four LR2 newbuildings, and two VLCC newbuildings under agreements or letters of intent. Deliveries for these vessels are expected between 2026 and 2030, indicating a multi-year pipeline of fleet expansion and renewal activity.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2026
Commission File Number: 001-34677
SCORPIO TANKERS INC.
(Translation of registrant’s name into English)
99, Boulevard du Jardin Exotique, Monaco 98000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this Report on Form 6-K (this “Report”) as Exhibit 99.1 is a copy of the press release issued by Scorpio Tankers Inc. (the “Company”) announcing that it has issued a redemption notice for its 7.5% Senior Unsecured Notes due 2030 and received a commitment for a new credit facility.
The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company’s registration statements on Form F-3 (Registration No. 333-286015) and S-8 (Registration No. 333-295734) that were filed with the U.S. Securities and Exchange Commission, with effective dates of March 21, 2025 and May 8, 2026, respectively.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SCORPIO TANKERS INC. | ||||||||||||||||||||
| (registrant) | ||||||||||||||||||||
Dated: July 1, 2026 | ||||||||||||||||||||
| By: | /s/ Christopher Avella | |||||||||||||||||||
| Christopher Avella | ||||||||||||||||||||
| Chief Financial Officer | ||||||||||||||||||||
Exhibit 99.1
Scorpio Tankers Inc. Announces Redemption of Nordic Bonds and a New Credit Facility
MONACO, July 1, 2026 (GLOBE NEWSWIRE) — Scorpio Tankers Inc. (NYSE: STNG) (“Scorpio Tankers,” or the “Company”) announced today that it has issued a redemption notice for its 7.5% Senior Unsecured Notes due 2030 and received a commitment for a new credit facility.
Redemption of 7.5% Senior Unsecured Notes
The Company has issued a redemption notice to redeem its outstanding 7.5% Senior Unsecured Notes (the “Notes”). The Notes have an aggregate principal amount outstanding of $200 million, bear a coupon rate of 7.5% and were originally scheduled to mature in January 2030. The Notes are expected to be redeemed on July 17, 2026 at a make-whole price of 106.4 to par plus accrued but unpaid interest.
New Credit Facility
The Company has received a commitment from Standard Chartered Bank and DekaBank Deutsche Girozentrale for a credit facility of up to $90 million (the “Credit Facility”). The Credit Facility will be used to finance a portion of the purchase price of four scrubber-fitted MR newbuilding product tankers, which are currently under construction at Jingjiang Nanyang Shipbuilding Co., Ltd. in China with expected deliveries in 2026 and 2027. The Credit Facility has a final maturity of seven years from the delivery date of each vessel and bears interest at SOFR plus a margin of 1.20% per annum.
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