Scorpio Tankers Inc. (NYSE: STNG) announced it received a commitment from Bank of America for a credit facility of up to $50 million. The facility will finance two 2015-built LR2 product tankers, STI Rose and STI Alexis.

The credit facility carries a seven-year maturity from each vessel's drawdown date and bears interest at SOFR plus a margin of 1.20% per annum. The terms and conditions, including financial covenants, align with the company's existing credit facilities.

The facility remains subject to customary conditions precedent and execution of definitive documentation. Scorpio Tankers expects the transaction to close within the second quarter of 2026.

Monaco-based Scorpio Tankers operates 87 product tankers, including 32 LR2 tankers, 41 MR tankers and 14 Handymax tankers, with an average fleet age of 10.2 years. The company has agreements to sell six MR product tankers and three LR2 product tankers, with closings expected in the second quarter of 2026.

The company also has agreements for four MR newbuildings under construction with deliveries expected in 2026 and 2027, four LR2 newbuildings with deliveries expected in 2027 and 2029, and two VLCC newbuildings with deliveries expected in the second half of 2028.