Scorpio Tankers increases conversion rate for 2022, 2025 convertibles

Chicago, Sept. 8 – Scorpio Tankers Inc. adjusted the conversion rate for its convertible senior notes due 2022 and its convertible senior notes due 2025 effective Wednesday, according to a 6-K filing with the Securities and Exchange Commission.

The new rate for each of the convertibles is 26.9419 common shares per $1,000 principal amount of notes, an increase of 0.1540 per $1,000 note.

Scorpio made the change because of a cash dividend of $0.10 per common share payable on or around Sept. 29 to shareholders of record as of Sept. 9.

Scorpio is a Monaco-based shipping company that operates oil tankers.

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