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Scorpio Tankers Closes Offering of Senior Notes due 2031

Scorpio Tankers (STNG) said late Friday it closed an offering of $375 million of 1.75% convertible senior notes due 2031.The offering comprised $50 million of shares issued upon the full exercise of an overallotment option by the initial buyers, according to a statement.Around $100 million of the net proceeds of $363.3 million was used to repurchase over 1.3 million shares and the remainder will be used for general corporate purposes, the company said.

-- Scorpio Tankers (STNG) said late Friday it closed an offering of $375 million of 1.75% convertible senior notes due 2031.

The offering comprised $50 million of shares issued upon the full exercise of an overallotment option by the initial buyers, according to a statement.

Around $100 million of the net proceeds of $363.3 million was used to repurchase over 1.3 million shares and the remainder will be used for general corporate purposes, the company said.