logo
Share SHARE
FONT-SIZE Plus   Neg

Scorpio Tankers Announces Direct Placement For Minimum Of 3.5 Mln Shares

Scorpio Tankers Inc. (STNG) said Thursday that it is offering a minimum of 3.5 million shares of its common stock in a registered direct placement at a price of $6.75 per share.

Evercore Group L.L.C. and RS Platou Markets AS are acting as placement agents.

The net proceeds of the offering are expected to be used to partially repay outstanding indebtedness under the company's 2010 revolving credit facility and for general corporate purposes, including vessel acquisitions and working capital.

The company plans to re-draw all or a portion of the amount available under the 2010 revolving credit facility for working capital and general corporate purposes and to fund future vessel acquisitions.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
RELATED NEWS
Trade STNG now with 
Follow RTT