STNG - Scorpio Tankers Inc.
Scorpio Tankers Inc. Announces Closing of Convertible Senior Notes due 2031 and Concurrent Stock Repurchase
MONACO, May 12, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) (the “Company”) announced today that it has closed its previously announced private offering (the “Offering”) for $230,000,000 in aggregate principal amount of additional 1.75% convertible senior notes due 2031 (the “New Notes”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). This amount includes the full exercise of the initial purchaser's option to purchase an additional $30,000,000 in aggregate principal amount of the New Notes in connection with the Offering. The New Notes priced at 110.25% of par, plus accrued interest in the amount of approximately $1.56 per $1,000 principal amount of New Notes from, and including, April 10, 2026, to, but excluding May 12, 2026. The offering of New Notes resulted in gross proceeds of approximately $253.6 million, and a combined yield to maturity of approximately 1.0% for the aggregate series of New Notes and Initial Notes (as defined below). The New Notes were issued pursuant to the same indenture as the Company's $375.0 million aggregate principal amount of 1.75% convertible senior notes due 2031 (the “Initial Notes” and, together with the New Notes, the “Notes”) issued on April 10, 2026 and form a part of the same series of Notes as the Initial Notes. Although the New Notes will initially trade under a different Rule 144A CUSIP number than the Initial Notes, the Company expects that once de-legended, the New Notes will trade with the same CUSIP number as the Initial Notes. In conjunction with the Offering, the Company repurchased 649,427 shares of its common stock at $84.69 per share.
