Chicago, May 26 – Scorpio Tankers Inc. priced $25 million of $25-par senior notes due June 30, 2025 with a 7% coupon, according to a press release.
The underwriters have a 30-day option to purchase an additional $3.75 million principal amount of notes.
B. Riley FBR, Inc., Ladenburg Thalmann & Co. Inc., Janney Montgomery Scott LLC and William Blair & Co., LLC are the joint bookrunners.
Co-managers are Boenning & Scattergood, Inc., Incapital LLC, National Securities Corp. and Wedbush Securities Inc.
Coupons are payable on March 30, June 30, Sept. 30 and Dec. 30, starting on June 30, 2020.
The notes are redeemable on or after June 30, 2022 and prior to June 30, 2023 at 102%, on or after June 30, 2023 and prior to June 30, 2024 at 101% or after June 30, 2024 at par. Prior to June 30, 2022, the notes are redeemable after a change of control at 104%.
Scorpio Tankers plans to use the proceeds for general corporate purposes and working capital.
The company plans to list the notes on the New York Stock Exchange under the symbol “SBBA.”
Scorpio Tankers is a Monaco-based petroleum shipping company.
| Issuer: | Scorpio Tankers Inc.
|
| Issue: | Senior notes
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| Amount: | $25 million
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| Greenshoe: | $3.75 million
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| Maturity: | June 30, 2025
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| Bookrunners: | B. Riley FBR, Inc., Ladenburg Thalmann & Co. Inc., Janney Montgomery Scott LLC and William Blair & Co., LLC
|
| Co-managers: | Boenning & Scattergood, Inc., Incapital LLC, National Securities Corp. and Wedbush Securities Inc.
|
| Coupon: | 7%
|
| Price: | Par of $25.00
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| Call: | On of after June 30, 2022 at 102, after June 30, 2023 at 101, thereafter at par
|
| Change-of-control put: | At 104
|
| Trade date: | May 26
|
| Settlement date: | May 29
|
| Listing: | NYSE: SBBA (expected)
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