MONACO, May 20, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) ("Scorpio Tankers," or the "Company") announced today that it has received approval from majority lenders under its 2023 $1.0 Billion Credit Facility to make an unscheduled repayment on the term portion of this credit facility in June 2024 of $223.6 million. This prepayment is to be applied against the eight quarterly principal installments of the term loan falling due between the third quarter of 2024 and the second quarter of 2026. Given the lower debt service costs arising from this prepayment, the Company's cash break even rates are expected to decrease by approximately $3,500 per day for the first year following this prepayment. This repayment will not impact the availability under the revolving portion of this credit facility, which is currently $288.2 million. After giving effect to this repayment, the expected future principal repayments on the Company's outstanding indebtedness as of March 31, 2024, which includes principal amounts due under the Company's secured credit facilities, lease financing arrangements and Senior Notes Due 2025, are as follows:   Unsecured Maturities 2024 and 2025 maturities, including announced debt and lease repayments Recurring 2024, 2025 and thereafter maturities Total, including announced repayments (1) Q2 2024 (2) $ -   $ 341.7   $ 57.1   $ 398.8   Q3 2024   -     -     18.5     18.5   Q4 2024   -     -     24.0     24.0   Q1 2025