Scorpio Tankers’ 3% convertibles due 2025 all converted into shares

By Wendy Van Sickle

Columbus, Ohio, Dec. 5 – Scorpio Tankers Inc. announced that all of the holders of its 3% convertible senior notes due 2025 have converted their bonds into 5,757,698 common shares of the company, according to a press release.

As a result of the conversion, the company’s outstanding debt has been reduced by $205 million, which was the accreted principal on the outstanding bonds.

As of Monday, the company had 62,052,370 common shares issued and outstanding, inclusive of the conversion of the bonds.

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

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