Scorpio Tankers Inc. Announces a Signed Commitment Letter for a $267 Million Credit Facility

Scorpio Tankers Inc. Announces a Signed Commitment Letter for a $267 Million 
Credit Facility 
MONACO -- (Marketwire) -- 02/25/13 --  Scorpio Tankers Inc. (NYSE:
STNG) (the "Company" or "Scorpio Tankers") announced today that it
has signed a commitment letter for a $267.0 million credit facility
("2013 Credit Facility") with Nordea Bank Finland plc, acting through
its New York branch, ABN AMRO Bank N.V, and Skandinaviska Enskilda
Banken AB.  
The 2013 Credit Facility will be split into a term loan and a
revolving loan and will be used to finance up to 60% of the purchase
price of vessels, including newbuildings upon delivery. The credit
facility matures six years after the loan is signed. Borrowings under
the credit facility are available until January 31, 2015. The
covenants and other conditions are similar to the Company's existing
credit facilities. 
Emanuele Lauro, chief executive officer and chairman of the board,
commented, "We thank our lenders for their continued support of our
company. This loan will finance a significant number of our vessels
on order and will enable us to continue our growth strategy." 
About Scorpio Tankers Inc.  
Scorpio Tankers Inc. is a provider of marine transportation of
petroleum products worldwide. Scorpio Tankers Inc. currently owns 13
tankers (one LR2 tanker, four LR1 tankers, one Handymax tanker, six
MR tankers, and one post-Panamax tanker) with an average age of 4.6
years, time charters-in 19 product tankers (three LR2, three LR1,
nine MR and five Handymax tankers), and has contracted for 20
newbuilding product tankers (16 MR and four Handymax vessels), two of
which are expected to be delivered to the Company by April 2013 and
the remaining 18 by the end of 2014. 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," "anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential," "may,"
"should," "expect," "pending" 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, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe 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 our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.  
In addition to these important factors, other important factors that,
in our view, could cause actual results to differ materially from
those discussed in the forward-looking statements include the failure
of counterparties to fully perform their contracts with us, 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 our
operating expenses, including bunker prices, drydocking and insurance
costs, the market for our 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, potential liability from pending or future
litigation, general domestic and international political conditions,
potential disruption of shipping routes due to accidents or political
events, vessels breakdowns and instances of off-hires and other
factors. Please see our filings with the Securities and Exchange
Commission for a more complete discussion of these and other risks
and uncertainties.  
Scorpio Tankers Inc. 
212-542-1616 
 
 
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