Scorpio Tankers Closes $375M Convertible Note Offering

Scorpio Tankers Inc. announced the closing of its $375 million private offering of 1.75% convertible senior notes due 2031, which included the full exercise of the initial purchasers' option for an additional $50 million. Concurrently, the company repurchased 1,344,809 shares of its common stock for $100 million at $74.36 per share. The notes have an initial conversion price of approximately $100.39 per share, representing a 35% premium, with the remaining net proceeds of $263.3 million designated for general corporate purposes.