MONACO, April  07, 2026  (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (the &#34;Company&#34;) announced today that it priced a private offering (the &#34;Offering&#34;) of $325 million aggregate principal amount of 1.75%

STNG

Scorpio Tankers Inc. Announces Pricing of Convertible Senior Notes due 2031 and Concurrent Stock Repurchase

Scorpio Tankers Announces $325 Million Convertible Notes Offering

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>MONACO, April  07, 2026  (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (the &amp;#34;Company&amp;#34;) announced today that it priced a private offering (the &amp;#34;Offering&amp;#34;) of $325 million aggregate principal amount of 1.75%</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Scorpio Tankers has priced a $325 million offering of 1.75% convertible senior notes, set to close on April 10, 2026. The proceeds will be partially used for repurchasing shares, likely affecting STNG&#039;s liquidity and shareholder value in the near term.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Scorpio Tankers priced $325 million of convertible senior notes.</li><li>Notes have a 1.75% interest rate, due in 2031.</li><li>Company plans to use proceeds for share repurchases and corporate purposes.</li><li>Concurrent repurchase of 1.34 million shares at $74.36 each.</li><li>Offer expected to close on April 10, 2026.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Scorpio Tankers Inc. (STNG)</strong>: Major share repurchase could enhance shareholder value amid convertible offering.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This falls under &#039;Corporate Developments&#039; due to the financing strategy involving notes and share repurchases, which are significant for STNG&#039;s capital structure and stock price.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>The $325 million notes offering will enhance liquidity for STNG.</li><li>Share repurchase may lead to a rise in stock price short term.</li><li>Convertible notes have a 35% premium, impacting future conversion dynamics.</li><li>Closing of the offering on April 10, 2026, could temporarily uplift investor sentiment.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>$325 million is the total amount for the convertible note offering.</li><li>Notes bear a 1.75% interest rate, maturing in 2031.</li><li>Shares being repurchased at $74.36 with 1.34 million total shares.</li><li>Offering expected to close on April 10, 2026.</li><li>Proceeds include $100 million for stock repurchase.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Consider buying STNG as share repurchase could boost prices by April 2026.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">MONACO, April  07, 2026  (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/STNG">STNG</a>) (the "Company") announced today that it priced a private offering (the "Offering") of $325 million aggregate principal amount of 1.75% convertible senior notes due 2031 (the "Notes"). The offering size was increased from the announced offering size of $300 million aggregate principal amount of Notes. The Notes will be sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company also granted to the initial purchasers of the Notes an option to purchase, during a 13-day period beginning on, and including, the first date on which the Notes are issued, up to an additional $50 million aggregate principal amount of Notes.</p>  <p align="justify">The Company has agreed to repurchase, concurrently with the closing of the Offering, approximately 1.34 million shares of the Company's common stock (the "Common Stock") from purchasers of Notes in privately negotiated transactions effected with or through one of the initial purchasers or an affiliate, at a purchase price per share equal to the last reported sale price of $74.36 per share of the Common Stock on the New York Stock Exchange on April 7, 2026.</p>  <p align="justify">The Offering is expected to close on April 10, 2026, subject to the satisfaction of certain customary closing conditions. The Notes will be senior, unsecured obligations of the Company. The Notes will mature on April 15, 2031, unless earlier converted or repurchased or redeemed by the Company. The Notes will bear interest at a rate of 1.75% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2026.</p>  <p align="justify">Prior to January 15, 2031, the Notes will be convertible at the option of the holders only under certain circumstances and during certain periods. On or after January 15, 2031, holders may convert their Notes at any time at their election until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Notes may be settled at the Company's election, in cash, shares of the Company's Common Stock, or a combination of cash and shares of Common Stock. The initial conversion rate for each $1,000 principal amount of Notes is 9.9615 shares of Common Stock, equivalent to a conversion price of approximately $100.39 per share (which represents a conversion premium of approximately 35% above the last reported sale price of the Common Stock on the New York Stock Exchange on April 7, 2026). The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.</p>  <p align="justify">The Notes will be redeemable, in whole or in part (subject to certain limitations), for cash at the Company's option at any time, and from time to time, on or after April 20, 2029 and on or before the 41st scheduled trading day immediately before the maturity date, if the last reported sale price per share of the Company's Common Stock exceeds 130% of the conversion price for a specified period of time and certain other conditions are satisfied. In addition, the Company will have the right to redeem all, but not less than all, of the Notes if certain changes in tax law occur and certain other conditions are satisfied. Except as described in the two immediately preceding sentences, the Notes will not be redeemable at the Company's option prior to the maturity date. The redemption price will be equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.</p>  <p align="justify">If certain corporate events that constitute a "fundamental change" occur, then, subject to limited exceptions, noteholders may require the Company to repurchase their Notes for cash at a price equal to the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.</p>  <p align="justify">The Company estimates that the net proceeds from the Offering will be approximately $314.7 million (or approximately $363.3 million if the initial purchasers exercise their option to purchase additional Notes in full), after deducting the initial purchasers' discounts and commissions and the Company's estimated Offering expenses. The Company intends to use (i) approximately $100.0 million of the net proceeds from the Offering to repurchase approximately 1.34 million shares of Common Stock as described above and (ii) the remainder of the net proceeds for general corporate purposes. The Company's share repurchases could have increased, or prevented a decrease in, the market price of the Common Stock or the Notes, which could have resulted in a higher effective conversion price for the Notes.</p>  <p align="justify">The Notes were only offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The Notes and any shares of the Common Stock issuable upon conversion of the Notes, have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from such registration requirements. This announcement is neither an offer to sell nor a solicitation of an offer to buy securities, nor will there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.</p>  <p align="justify"><strong>About Scorpio Tankers Inc.</strong></p>  <p align="justify">Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 88 product tankers (33 LR2 tankers, 41 MR tankers and 14 Handymax tankers) with an average age of 10.1 years. The Company has reached agreements to sell an LR2 product tanker and three MR product tankers, which are expected to close in the second quarter of 2026. The Company has also reached agreements for four MR new buildings that are currently under construction with deliveries expected in 2026 and 2027, four LR2 new buildings with deliveries expected in 2027 and 2029 and two VLCC new buildings with deliveries expected in the second half of 2028. Additional information about the Company is available at the Company's website <a href="http://www.scorpiotankers.com" title="www.scorpiotankers.com">www.scorpiotankers.com</a>, which is not a part of this press release.</p>  <p align="justify"><strong>Forward-Looking Statements</strong></p>  <p align="justify">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.</p>  <p align="justify">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.</p>  <p align="justify">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, 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, the impact of the current and future sanctions that may impact the transportation of petroleum products, potential liability from pending or future litigation, general domestic and international political conditions, which have and may continue to disrupt certain global shipping routes, vessel breakdowns and instances of off‐hires, and other factors. Please see the Company's filings with the SEC for a more complete discussion of certain of these and other risks and uncertainties.</p>  <p align="justify"><strong>Contact Information</strong><br></br>Scorpio Tankers Inc.<br></br>James Doyle - Head of Corporate Development &amp; Investor Relations<br></br>Tel: +1 203-900-0559<br></br>Email: <a href="mailto:investor.relations@scorpiotankers.com">investor.relations@scorpiotankers.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY4NTg1NyM3NTI0NDg3IzIwODMwNDY="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/Yzk4YmE0MmItMTZjYy00MjU2LWFhZTgtNzY0Y2FjY2RhNjY4LTEwOTQ2MTctMjAyNi0wNC0wOC1lbg==/tiny/Scorpio-Tankers-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/f7e24336-fbde-413f-9519-5f0b0fc0f292"><img src="https://ml.globenewswire.com/media/f7e24336-fbde-413f-9519-5f0b0fc0f292/small/scorpio-png.png" border="0" width="150" height="44" alt="Primary Logo"></img></a></p>

Scorpio Tankers has priced a $325 million offering of 1.75% convertible senior notes, set to close on April 10, 2026. The proceeds will be partially used for repurchasing shares, likely affecting STNG's liquidity and shareholder value in the near term.

Scorpio Tankers Inc. Announces Pricing of Convertible Senior Notes due 2031 and Concurrent Stock Repurchase

AI Summary

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Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

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