Scorpio Bulkers Upsizes Senior Notes Offering To $60 Mln

(RTTNews) - Scorpio Bulkers Inc. (SALT) said Thursday that it has upsized its planned offering of senior unsecured notes due 2019 in a registered public offering.

The size of the offering has been increased from the initially announced size of $35 million in aggregate principal amount of Notes to $60 million in aggregate principal amount of Notes.

The company also plans to grant the underwriters a 30-day option to purchase an additional $9.0 million in aggregate principal amount of Notes.

The company plans to use all or substantially all of the net proceeds of this offering to fund installment payments due under its newbuilding program, and the remaining amount, if any, for general corporate purposes and working capital.