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HomeMaritime NewsRegionsAmericasScorpio Bulkers to offer $40m in 2019 bonds

Scorpio Bulkers to offer $40m in 2019 bonds

Scorpio Bulkers to offer $40m in 2019 bonds
Scorpio Bulkers has announced plans to offer $35m of senior unsecured notes in a public offering, with a further $5.25m in options for underwriters.

Proceeds from the 2019 notes will be used to cover installment payments on the company's orderbook

At the end of June, Scorpio Bulkers had paid down $851.3m in installments on its $3.1bn newbuilding programme of 80 ships. The company is due to pay the remaining $2.25bn in scheduled installments between now and the third quarter of 2016.

A further $5.25m will be made available to underwriters under a 30-day option.

Stifel, Nicolaus & Company, Incorporated, Deutsche Bank Securities Inc. and Jefferies LLC will act as joint book-running managers for the offering with BB&T Capital Markets, Janney Montgomery Scott, MLV & Co. and Wunderlich Securities acting as co-managers.

TAGS: Dry Bulk Finance & Insurance

 

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