Scorpio Tankers Secures $200 Million in Senior Bonds for Growth
Scorpio Tankers Secures Major Financial Milestone
Scorpio Tankers Inc. (NYSE: STNG) has recently achieved a significant financial milestone by successfully placing USD 200 million in new senior unsecured bonds within the Nordic bond market. This noteworthy development is marked by an application for listing these bonds on the Oslo Stock Exchange. The bonds feature a maturity date set for January 2030 and will yield a fixed coupon of 7.5% per annum, with interest payments occurring semi-annually.
Utilization of Bond Proceeds
The funds raised through this bond issuance are earmarked for refinancing Scorpio Tankers’ existing senior unsecured notes amounting to USD 70.6 million, as well as supporting various corporate purposes. This strategic decision reflects the company’s goal to optimize its capital structure and enhance financial flexibility.
Key Participants in the Bond Placement
The bond placement saw the collaboration of key players in the financial markets. DNB Markets, Arctic Securities AS, and Pareto Securities AS acted as Global Coordinators and Joint Bookrunners. Additionally, Nordea Bank Abp, Filial i Norge, Credit Agricole Corporate and Investment Bank, and Clarksons Securities AS served as Joint Lead Managers, showcasing a concerted effort to ensure the successful issuance of these bonds.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a premier provider of marine transportation for petroleum products around the globe. The company boasts a robust fleet of 99 product tankers, which includes 38 LR2 tankers, 47 MR tankers, and 14 Handymax tankers, with an average vessel age of 8.8 years. Scorpio Tankers remains committed to delivering reliable services while responding effectively to market demands and opportunities for growth.
Company Information and Contacts
For inquiries related to the bond issuance or any other corporate matters, interested parties can reach out to:
James Doyle – Head of Corporate Development & Investor Relations
Tel: +1 203-900-0559
Email: investor.relations@scorpiotankers.com
Frequently Asked Questions
What is the total amount Scorpio Tankers raised from the bond placement?
Scorpio Tankers raised a total of USD 200 million through the successful issuance of senior unsecured bonds.
What is the maturity date of the newly issued bonds?
The bonds are set to mature in January 2030.
What is the fixed coupon rate on these bonds?
The bonds carry a fixed coupon rate of 7.5% per annum, with interest payable semi-annually.
How will the proceeds from the bond issuance be utilized?
The proceeds will be used to refinance existing senior unsecured notes and for general corporate purposes.
Who were the key participants in the bond placement?
Key participants included DNB Markets, Arctic Securities AS, and Pareto Securities AS as Global Coordinators and Joint Bookrunners.
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