QUANTUMONLINE.COM SECURITY DESCRIPTION: Scorpio Tankers Inc., 7.00% Fixed Rate Senior Unsecured Notes due 2025, issued in $25 denominations, redeemable at the issuer's option on or after 6/30/2022 at $25.50 (102%) per note plus accrued and unpaid interest; on or after 6/30/2023 at $25.25 (101%) per note plus accrued and unpaid interest; on or after 6/30/2024 at $25.00 (100%) per note plus accrued and unpaid interest and maturing 6/30/2025. Interest distributions of 7.00% per annum ($1.75 per annum or $0.4375 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders.
Upon the occurrence of a change of control the company will have the option within 90 days to redeem the Notes at $26.00 (104%) per share plus accrued and unpaid interest.
This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
