Scorpio Tankers Inc. announced today that it plans to offer senior unsecured notes due 2017 in a registered public offering,the company announced in its press release. The Company intends to use the net proceeds from the offering for general corporate purposes and working capital, which may include the acquisition of additional new or secondhand vessels. The Company can provide no assurance that it will be able to identify additional vessels to acquire or that it will be able to complete the acquisition of vessels that it is able to identify.
In connection with this offering, the Company has submitted an application to list the Notes on the New York Stock Exchange (the "NYSE") under the symbol "SBNB." If approved for listing, trading on the NYSE is expected to commence within 30 days after the Notes are first issued. The Notes will be issued in minimum denominations of $25.00 and integral multiples of $25.00 in excess thereof.
Stifel, Jefferies, Credit Suisse and Janney Montgomery Scott will act as joint book-running managers for the offering. Wunderlich Securities and BB&T Capital Markets will act as co-managers for the offering.
