MONACO, Oct. 09, 2018 (GLOBE NEWSWIRE) — Scorpio Tankers Inc. (NYSE: STNG) (“Scorpio Tankers,” or the “Company”) announced today that it intends to offer, issue and sell to the public $250 million of common shares, par value $0.01 per share (“Common Shares”), through an underwritten public offering (the “Offering”). The net proceeds of the Offering are expected to be used for general corporate purposes. As part of this offering, Scorpio Bulkers Inc. (NYSE:SALT), or SALT, and Scorpio Services Holding Limited, or SSH, each a related party and members of the Scorpio Group of companies, have each expressed an interest in purchasing common shares at the public offering price with a value of at least $100 million and $10 million, respectively.However, because indications of interest are not binding agreements or commitments to purchase, the underwriters may determine to sell more, fewer or no common shares in this offering to either or both of these entities, or either or both of these entities may determine to purchase more, fewer or no common shares in this offering.

The Company also intends to grant the underwriters a 30-day option to purchase up to an additional $37.5 million of Common Shares.

BofA Merrill Lynch and BTIG, LLC are acting as joint book-running managers and Clarksons Platou Securities, Inc. is acting as Senior Manager for the Offering.

Seward & Kissel LLP acted as legal counsel for Scorpio Tankers Inc. and Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal counsel for the underwriters.

The Company’s Common Shares trade on the New York Stock Exchange under the symbol “STNG.”

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The Offering is being made only by means of a prospectus supplement and accompanying base prospectus. A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (the “SEC”) and is effective. A final prospectus supplement related to the Offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. When available, copies of the prospectus supplement and the accompanying base prospectus relating to the Offering may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, (or by email at [email protected]) BTIG, 825 3rd Avenue, 32nd Floor, New York, NY 10022, Attention: Equity Capital Markets, (or by phone at 212-593-7555, or by email at [email protected]), or Clarksons Platou Securities, Inc., 280 Park Avenue, 21st Floor, New York, NY 10017, (or by phone at (212) 317-7080, or by e-mail at [email protected]).