Business
Scorpio Tankers Inc. Announces Proposed Offering of Convertible Senior Notes and Concurrent Stock Repurchase
MONACO, April 07, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) (the “Company”) announced today its intention to offer $300,000,000 aggregate principal amount of convertible senior notes due 2031 (the “Notes”) in a private offering (the “Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), subject to market conditions and other factors. The Company also expects to gra
About this update from Scorpio Tankers Inc.
[{"type":"image","alt":"Scorpio Tankers Inc.","displaySize":"","headline":null,"caption":"Scorpio Tankers Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":199,"height":58,"url":"https://media.zenfs.com/en/globenewswire.com/1c650e6c206a18bfae2759632475046a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ZTCzzHDktPOwRv3cWjRF4Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTM2MDtoPTEwNQ--/https://media.zenfs.com/en/globenewswire.com/1c650e6c206a18bfae2759632475046a","width":199,"height":58}},"lazy":false},{"type":"text","content":"MONACO, April 07, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) (the “Company”) announced today its intention to offer $300,000,000 aggregate principal amount of convertible senior notes due 2031 (the “Notes”) in a private offering (the “Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), subject to market conditions and other factors. The Company also expects to grant to the initial purchasers of the Notes an option to purchase, during a 13-day period, beginning on, and including, the first date on which the Notes are issued, up to an additional $45,000,000 aggregate principal amount of Notes.","length":732,"tagName":"p"},{"type":"text","content":"The Company expects to use a portion of the net proceeds from the Offering to repurchase shares of its common stock (the “Common Stock”), concurrently with the closing of the Offering. The Company expects to repurchase shares sold short by initial investors in the Offering in privately negotiated transactions effected with or through one of the initial purchasers or an affiliate at a price per share equal to the closing price of the Common Stock on the date of the pricing of the Offering.","length":493,"tagName":"p"},{"type":"text","content":"The Notes will be senior, unsecured obligations of the Company with interest payable semiannually in arrears and will mature on April 15, 2031, unless earlier converted or redeemed or repurchased by the Company. Upon conversion, the Notes may be settled, at the Company’s election, in cash, shares of the Company’s Common Stock, or a combination of cash and shares of the Common Stock. The interest rate, initial conversion rate and other terms of the Notes will be determined upon pricing of the Offering.","le...