Scorpio Tankers Inc. Announces Proposed Reopening of 1.75% Convertible Senior Notes due 2031 and Concurrent Stock Repurchase
Scorpio Tankers plans to offer $150 million of additional 1.75% convertible senior notes due 2031 in a private placement to qualified institutional buyers. The company intends to use a portion of the net proceeds to repurchase common stock concurrently with the offering to offset shares sold short by initial investors.
Key figures
- Deal Value Usd
- 150000000
- Coupon rate
- 1.75%
- Conversion price
- 100.39
- Overallotment option
- 22500000
- Conversion rate per 1000
- 9.9615
- Existing notes aggregate
- 375000000
- Additional notes aggregate
- 150000000
AI analysis
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