Scorpio Bulkers plans to sell $25-par senior notes due 2019

By Stephanie N. Rotondo

Phoenix, Aug. 7 – Scorpio Bulkers Inc. plans to offer $25-par senior notes due 2019, according to a prospectus filed with the Securities and Exchange Commission on Thursday.

Stifel Nicolaus & Co. Inc., Deutsche Bank Securities Inc. and Jefferies & Co. are the bookrunners.

Interest will be payable on the 15th day of March, June, September and December. Once the notes become redeemable, the company can call all or part of the issue at par plus accrued interest.

Additionally, the indenture allows for a redemption in whole upon a tax event.

The new securities will be listed on the New York Stock Exchange.

The Monaco-based shipping company intends to use the proceeds for general corporate purposes, including vessel acquisitions.

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