Scorpio Tankers lifts conversion ratio of convertible notes due 2019

By Susanna Moon

Chicago, May 20 – Scorpio Tankers Inc. raised the conversion ratio of its convertible senior notes due 2019, effective Thursday, according to a 6-K filing with the Securities and Exchange Commission.

The new conversion ratio is 86.3738 shares per $1,000 principal amount of notes, up by 1.1523 shares.

The adjustment is the result of the cash dividend of $0.125 per share that will be paid on June 10 to shareholders as of May 21.

Monaco-based Scorpio is an oil tanker business.

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