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Scorpio Tankers increases conversion rate for convertibles due 2022
By Taylor Fox
New York, March 2 – Scorpio Tankers Inc. adjusted the conversion rate for its convertible senior notes due 2022 effective Tuesday, according to a 6-K filing with the Securities and Exchange Commission.
The new rate is 26.6617 common shares per $1,000 principal amount of notes, an increase of 0.1806 of a share.
Scorpio made the change because of a cash dividend of $0.10 per common share payable on or around March 15 to shareholders of record as of March 2.
Scorpio is a New York-based shipping company that operates oil tankers.
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