Scorpio Tankers lifts conversion ratio of convertible notes due 2019

By Marisa Wong

Morgantown, W.Va., Nov. 23 – Scorpio Tankers Inc. will increase the conversion ratio of its convertible senior notes due 2019, effective Tuesday, according to a 6-K filing with the Securities and Exchange Commission.

The new conversion ratio will be 88.6790 shares per $1,000 principal amount of notes, up by 1.2441 shares.

The adjustment is the result of the cash dividend of $0.125 per share that will be paid on Dec. 11 to shareholders of record as of Nov. 24.

Monaco-based Scorpio is an oil tanker business.

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