Scorpio Tankers’ 8.25% $25-par notes due 2019 admitted to NYSE

By Stephanie N. Rotondo

Seattle, April 11 – Scorpio Tankers Inc.’s $50 million of 8.25% $25-par senior notes due 2019 began trading on the New York Stock Exchange on Tuesday, according to a market source.

The ticker symbol is “SBBC.”

The deal came March 28, in line with price talk of 8.25%.

Stifel Nicolaus & Co. Inc. and Janney Montgomery Scott LLC were the joint bookrunners.

The offering has a $7.5 million over-allotment option.

Interest will be payable on a quarterly basis. The notes become redeemable on or after Dec. 1, 2018 at par plus accrued interest. The notes are also redeemable in whole upon a tax event.

The New York-based seaborne oil transporter intends to use the proceeds to fund a portion of a tender offer for the 7.5% $25-par notes coming due in October and to repay any notes not tendered.

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