Scorpio Tankers To Offer $250 Mln In Convertible Senior Notes Due 2019

(RTTNews) - Scorpio Tankers Inc. (STNG) said it plans to offer $250 million in aggregate principal amount of convertible senior notes due 2019 in a private offering to qualified institutional buyers.

The company expects to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $50 million in aggregate principal amount of the notes in connection with the offering.

The company intends to use the net proceeds of the offering for a concurrent share repurchase of up to $150 million and general corporate purposes, including additional potential repurchases of its common stock.