Scorpio Tankers adjusts conversion rate for 2025 convertibles

By William Gullotti

Buffalo, N.Y., Nov. 16 – Scorpio Tankers Inc. will adjust the conversion rate for its convertible senior notes due 2025 effective at the close of business on Nov. 17, according to a 6-K filing with the Securities and Exchange Commission.

The rate will be upped to 27.5281 common shares per $1,000 principal amount of notes, an increase of 0.0558 per $1,000 note.

The change is due to a cash dividend of $0.10 per common share payable on or around Dec. 15 to shareholders of record as of Nov. 17.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.