Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Scorpio Tankers Announces Direct Placement For Minimum Of 3.5 Mln Shares

RELATED NEWS
Trade STNG now with 

Scorpio Tankers Inc. (STNG: Quote) 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.

Click here to receive FREE breaking news email alerts for Scorpio Tankers Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.