Scorpio Tankers Inc. (NYSE: STNG) (“Scorpio Tankers” or the “Company”) announced that it has exercised the purchase options on six ships.

The Company has given notice to exercise its purchase options on two 2016 built LR2 product tankers (STI Grace and STI Jermyn), one 2019 built LR2 product tanker (STI Lavender), two 2019 built MR product tankers (STI Magnetic and STI Marshall) and one 2020 built MR product tanker (STI Miracle).

The leases bear interest at LIBOR plus a margin of 3.50% per annum. The purchase, which is expected to occur in May 2023, will result in a debt reduction of $149.8 million for the Company.

Scorpio Tankers Inc. press release