Scorpio Tankers slides on planned $300 mln convertible bond sale

Scorpio Tankers

07/04/2026 21:21

** Scorpio Tankers STNG.N shares down 4.5% post-market at $71 as it seeks capital raise

** Petroleum products shipper announces private offering of $300 mln 5-yr convertible bonds (CBs)

** Co intends to use net offering proceeds for general corp purposes, and a portion to repurchase its shares to facilitate hedging by investors in the CBs

** STNG shares ended down 2.8% at $74.36 on Tues, trimming YTD gain to 46%

** Co has roughly $4 bln market cap

** Of 10 analysts covering the stock, 8 rate "strong buy" or "buy", 1 "hold" and 1 "sell"; median PT $84, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))