Scorpio Tankers announces sale and leaseback agreements for six tankers

Scorpio Tankers has agreed to sell and leaseback six MR product tankers to CMB Financial Leasing.

Upon completion, Scorpio's liquidity is expected to increase by US$52 million in aggregate after the repayment of outstanding debt.

As part of the agreements, Scorpio will bareboat charter-in the vessels for a period of eight years. In addition, they have purchase options beginning at the start of the fourth year of each agreement.

There is also a purchase obligation for each vessel upon the expiration of each agreement.