Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Scorpio Tankers Inc. > News item |
Scorpio Tankers to sell $25-par senior notes due 2019; proceeds to fund tender for 7.5% notes
By Stephanie N. Rotondo
Seattle, March 28 – Scorpio Tankers Inc. is offering $25-par senior notes due June 1, 2019, the company said in a prospectus filed with the Securities and Exchange Commission on Tuesday.
Initial price talk is 8.25%, according to a market source.
Stifel Nicolaus & Co. Inc. and Janney Montgomery Scott LLC are the joint bookrunners. Ladenburg Thalmann & Co. Inc. and Wunderlich Securities are the co-managers.
Interest will be payable on a quarterly basis. The notes become redeemable on or after Dec. 1, 2018 at par plus accrued interest. The notes are also redeemable in whole upon a tax event.
The company has applied to list the new securities on the New York Stock Exchange under the ticker symbol “SBBC.”
The New York-based seaborne oil transporter intends to use proceeds to fund a portion of a tender offer for the 7.5% $25-par notes coming due in October and to repay any notes not tendered.
© 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.