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

Quick Facts

Editors Pick
Taiwanese technology giant Foxconn's Technology Group, which assembles Apple Inc.'s iPhones, is nearing a decision to invest in Wisconsin for producing display panels, the Wall Street Journal reported, citing people familiar with the matter. The company is said to hold an event in Washington, D.C., as soon as this week to discuss U.S. investment plans. Grab, the Singapore-based ride hailing company and Uber's biggest Asian rival, said Monday that Chinese ride-sharing company Didi Chuxing and Japan's SoftBank Group Corp. will invest a combined $2 billion to lead Grab's new financing round. Delta Air Lines is allowing some passengers use fingerprints instead of their boarding passes. The pilot program at the Reagan Washington National Airport or DCA will allow members of Delta's SkyMiles loyalty program and enrolled in Clear, a third-party biometric screening program, to use fingerprints as proof of identity to board their plane, the company said in a statement.
comments powered by Disqus
RELATED NEWS
Trade STNG now with 
Follow RTT