The acquisition is expected to be finalised before the end of this month.
Around 13 chemical tankers and a 50% share in a joint venture with eight chemical tanker newbuildings, representing an enterprise value of $575 mill, is included in the deal.
The acquired ships will satisfy the tonnage-replacement needs of SNI’s fleet for several years and add new trade routes to enhance the company's global service capabilities, it said.
Funding for the transaction has been secured through SNI's main commercial banks with a combination of bridge financing, secured term loans and corporate funds.
Financing of the ships in the joint venture will be off balance sheet. The net addition to SNI's debt from this transaction will be about $465 mill.
Following the transaction, SNI’s available liquidity will be about $300 mill, the company said.