Scorpio Tankers (STNG) has released an update.
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Scorpio Tankers Inc. has arranged an early repayment of $223.6 million on its credit facility, which will reduce future principal installments and is expected to lower daily cash break-even rates by around $3,500 for the following year. This strategic financial move will not affect the revolving credit availability and comes as part of the company’s proactive debt management. Scorpio Tankers Inc., which specializes in marine transportation of petroleum products, maintains a fleet of 108 product tankers and continues to optimize its financial structure.
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