Scorpio Tankers Inc. Announces Successful Placement of 5-year Senior Unsecured Bonds
Scorpio Tankers (NYSE: STNG) has successfully placed USD 200 million of new senior unsecured bonds in the Nordic bond market. The bonds will mature in January 2030 and carry a fixed coupon of 7.5% per annum, paid semi-annually. The proceeds will be used to refinance the company's existing USD 70.6 million senior unsecured notes and for general corporate purposes.
The company plans to list the bonds on the Oslo Stock Exchange. The bond placement was coordinated by DNB Markets, Arctic Securities AS, and Pareto Securities AS as Global Coordinators and Joint Bookrunners, while Nordea Bank Abp, Credit Agricole Corporate and Investment Bank, and Clarksons Securities AS served as Joint Lead Managers.
Scorpio Tankers (NYSE: STNG) ha collocato con successo 200 milioni di USD di nuovi obbligazioni senior non garantite nel mercato obbligazionario nordico. Le obbligazioni scadranno a gennaio 2030 e offrono un tasso fisso di 7,5% annuo, pagato semestralmente. I proventi saranno utilizzati per rifinanziare le attuali 70,6 milioni di USD di note senior non garantite dell'azienda e per scopi aziendali generali.
L'azienda prevede di quotare le obbligazioni alla Borsa di Oslo. La collocazione delle obbligazioni è stata coordinata da DNB Markets, Arctic Securities AS e Pareto Securities AS in qualità di Coordinatori Globali e Joint Bookrunners, mentre Nordea Bank Abp, Credit Agricole Corporate and Investment Bank e Clarksons Securities AS hanno servito come Joint Lead Managers.
Scorpio Tankers (NYSE: STNG) ha colocado con éxito 200 millones de USD en nuevos bonos senior no garantizados en el mercado de bonos nórdico. Los bonos vencerán en enero de 2030 y tienen un cupón fijo del 7,5% anual, pagado semestralmente. Los ingresos se utilizarán para refinanciar las actuales 70,6 millones de USD en notas senior no garantizadas de la compañía y para fines corporativos generales.
La compañía planea listar los bonos en la Bolsa de Valores de Oslo. La colocación de bonos fue coordinada por DNB Markets, Arctic Securities AS y Pareto Securities AS como Coordinadores Globales y Joint Bookrunners, mientras que Nordea Bank Abp, Credit Agricole Corporate and Investment Bank y Clarksons Securities AS actuaron como Joint Lead Managers.
스콜피오 탱커스 (NYSE: STNG)는 북유럽 채권 시장에서 2억 달러의 새로운 비보증 선순위 채권을 성공적으로 발행했습니다. 해당 채권은 2030년 1월에 만기되며 연 7.5%의 고정 이자율이 적용되며, 반기마다 지급됩니다. 자금은 회사의 기존 7,060만 달러의 비보증 선순위 노트를 재편성하고 일반 기업 용도로 사용될 예정입니다.
회사는 채권을 오슬로 증권 거래소에 상장할 계획입니다. 채권 발행은 DNB 마켓, Arctic Securities AS 및 Pareto Securities AS가 글로벌 코디네이터 및 공동 주관사로서 조정하였으며, Nordea Bank Abp, Credit Agricole Corporate and Investment Bank 및 Clarksons Securities AS가 공동 주관사로서 역할을 했습니다.
Scorpio Tankers (NYSE: STNG) a réussi à émettre 200 millions USD de nouvelles obligations senior non garanties sur le marché obligataire nordique. Les obligations arriveront à échéance en janvier 2030 et présentent un coupon fixe de 7,5% par an, payé semestriellement. Les produits seront utilisés pour refinancer les 70,6 millions USD d'obligations senior non garanties existantes de la société et pour des besoins généraux d'entreprise.
La société prévoit de coter les obligations à la Bourse d'Oslo. L'émission obligataire a été coordonnée par DNB Markets, Arctic Securities AS et Pareto Securities AS en tant que coordinateurs mondiaux et co-responsables de livre, tandis que Nordea Bank Abp, Credit Agricole Corporate and Investment Bank et Clarksons Securities AS ont agi en tant que co-responsables principaux.
Scorpio Tankers (NYSE: STNG) hat erfolgreich 200 Millionen USD an neuen nicht besicherten Senior-Anleihen im nordischen Anleihemarkt platziert. Die Anleihen haben eine Laufzeit bis Januar 2030 und einen festen Coupon von 7,5% pro Jahr, der halbjährlich bezahlt wird. Die Erlöse werden verwendet, um die bestehenden 70,6 Millionen USD an nicht besicherten Senior-Anleihen des Unternehmens umzuschulden und für allgemeine Unternehmenszwecke.
Das Unternehmen plant, die Anleihen an der Börse Oslo zu notieren. Die Anleiheplatzierung wurde von DNB Markets, Arctic Securities AS und Pareto Securities AS als globale Koordinatoren und Joint Bookrunners koordiniert, während Nordea Bank Abp, Credit Agricole Corporate and Investment Bank und Clarksons Securities AS als Joint Lead Managers tätig waren.
- Successfully secured USD 200 million in new financing
- 5-year maturity provides long-term debt stability
- Refinancing of existing USD 70.6M notes indicates strong credit market access
- 7.5% interest rate represents significant debt servicing cost
- Increased debt level may impact financial flexibility
Insights
The successful placement of
The refinancing of the existing
The strong syndicate of banks involved, including DNB Markets and Credit Agricole, suggests robust institutional interest. For a shipping company with a
This bond placement demonstrates Scorpio Tankers' strong market position in the product tanker segment. The timing is strategic, as product tanker rates have been robust, making it an attractive proposition for fixed-income investors. The semi-annual interest payments structure aligns well with the shipping industry's cash flow patterns.
Securing long-term financing through 2030 provides operational stability during a period when environmental regulations are becoming more stringent. The additional capital beyond refinancing needs could potentially support fleet modernization initiatives or provide a buffer against market volatility. The Oslo Exchange listing will enhance the bonds' liquidity and attract a broader investor base familiar with maritime assets.
Think of this like securing a long-term mortgage at a fixed rate - it provides certainty in uncertain times. For the average investor, this means Scorpio Tankers has locked in its borrowing costs at a time when interest rates are historically elevated, protecting against potential future rate increases while maintaining financial flexibility.
MONACO, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) (“Scorpio Tankers” or the “Company”) announces today that it has successfully placed USD 200 million of new senior unsecured bonds in the Nordic bond market. An application will be made for the bonds to be listed on the Oslo Stock Exchange. The new bonds are due to mature in January 2030 and will pay a fixed coupon of
The net proceeds from the bond issue shall be used to refinance the Company’s existing USD 70.6m senior unsecured notes and for general corporate purposes.
DNB Markets, Arctic Securities AS, and Pareto Securities AS acted as Global Coordinators and Joint Bookrunners and Nordea Bank Abp, Filial i Norge, Credit Agricole Corporate and Investment Bank, and Clarksons Securities AS, acted as Joint Lead Managers in the bond issue.
For further information, please contact:
James Doyle – Head of Corporate Development & Investor Relations
Tel: +1 203-900-0559
Email: investor.relations@scorpiotankers.com
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 99 product tankers (38 LR2 tankers, 47 MR tankers and 14 Handymax tankers) with an average age of 8.8 years. Additional information about the Company is available at the Company’s website www.scorpiotankers.com, which is not a part of this press release.
Forward-Looking Statements
Matters discussed in this press release may constitute forward‐looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward‐looking statements in order to encourage companies to provide prospective information about their business. Forward‐looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “target,” “project,” “likely,” “may,” “will,” “would,” “could” and similar expressions identify forward‐looking statements.
The forward‐looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company’s control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. The Company undertakes no obligation, and specifically declines any obligation, except as required by law, to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.
In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward‐looking statements include unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies in response to epidemic and other public health concerns including any effect on demand for petroleum products and the transportation thereof, expansion and growth of the Company’s operations, risks relating to the integration of assets or operations of entities that it has or may in the future acquire and the possibility that the anticipated synergies and other benefits of such acquisitions may not be realized within expected timeframes or at all, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, including the impact of the conflict in Ukraine and the developments in the Middle East, including the armed conflict in Israel and Gaza, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off‐hires, and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties.
Contact Information
Scorpio Tankers Inc.
James Doyle – Head of Corporate Development & Investor Relations
Tel: +1 203-900-0559
Email: investor.relations@scorpiotankers.com
FAQ
What is the size and interest rate of STNG's new bond placement?
When will STNG's new Nordic bonds mature?
How will STNG use the proceeds from the January 2025 bond issuance?
Which exchange will STNG's new bonds be listed on?
Who are the lead managers for STNG's 2025 bond placement?
