We advised the representative of the initial purchasers on the offering

Davis Polk advised the representative of the several initial purchasers in connection with a Rule 144A offering by Scorpio Tankers Inc. of $375 million aggregate principal amount of its 1.75% convertible senior notes due 2031, including the full exercise of the initial purchasers’ option to purchase additional securities.

Based in Monaco, Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio currently owns 87 product tankers (32 LR2, 14 Handymax and 41 MR tankers) with an average age of 10.1 years.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr. and associates Dennis Chu and Hye seon Jung. The equity derivatives team included partners Mark M. Mendez and Caitlin L. Wood and associates Alexander S. Pettingell and Ji Hwan Kim. Partner Lucy W. Farr, counsel Yixuan Long and associate Hunter P. Shaw provided tax advice. All members of the Davis Polk team are based in the New York office.

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