Scorpio Tankers has moved quickly to take advantage of a new $75m expansion of its existing "baby bond" programme.
The world's largest product tanker owner has sold $13.6m in new bonds under an underwriting agreement with B Riley Securities that is similar to the at-the-market (ATM) schemes that are more familiar on the equity side.
But a key difference is that the baby bonds are debt that does not require New York-listed Scorpio to make a dilutive shares issue, as has been the case in past trough...
