The New York-listed products-tanker owner completed the deal today with a 2.375% coupon rate and a five-year term.

The notes are convertible to Scorpio shares at a 30% premium to the $9.38 closing price today.

Underwriters hold an over-allotment option on 20% of the issue.

STNG said in a statement Tuesday morning that it would use $150m of the issue to buy back shares, supplementing an earlier $100m buyback programme.

This