Teekay Offshore Partners L.P. Announces Direct Equity Placement
(Thomson Reuters ONE) -
HAMILTON, BERMUDA--(Marketwire - July 5, 2011) - Teekay Offshore Partners L.P.
(Teekay Offshore or the Partnership) (NYSE:TOO) announced today that it has
agreed to sell approximately 0.7 million common units to an institutional
investor for net proceeds, including its general partner's proportionate capital
contribution, of approximately $20 million. The common units are being sold
pursuant to a registration statement previously filed and declared effective by
the Securities and Exchange Commission. The Partnership intends to use the
proceeds from the sale of common units to partially fund the acquisition of four
newbuilding shuttle tankers, which upon delivery in mid- to late-2013 will
commence operations in Brazil under ten-year, fixed-rate time-charter contracts
with a subsidiary of BG Group plc. The direct equity placement is expected to
close on July 7, 2011, after which the Partnership will have approximately 63.5
million common units outstanding.
When available, copies of the prospectus supplement and accompanying base
prospectus related to this offering may be obtained from at the SEC's website at
www.sec.gov or from Corporate Secretary, Teekay Offshore Partners L.P., 4th
Floor Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda.
This news release does not constitute an offer to sell or a solicitation of an
offer to buy the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. This offering may be made
only by means of a prospectus supplement and accompanying base prospectus.
The statements in this press release that are not historical facts may be
forward-looking statements. These forward-looking statements involve risks and
uncertainties that could cause the outcome to be materially different.
About Teekay Offshore
Teekay Offshore Partners L.P., a publicly-traded master limited partnership
formed by Teekay Corporation (NYSE: TK), is an international provider of marine
transportation, oil production and storage services to the offshore oil
industry. Teekay Offshore owns 40 shuttle tankers (including five chartered-in
vessels and five committed newbuildings), five Floating Storage and Offtake
(FSO) units, 11 conventional oil tankers, and two Floating Production Storage
and Offloading (FPSO) units. Teekay Offshore also has rights to participate in
certain other FPSO and shuttle tanker opportunities provided by its sponsor,
Teekay Corporation.
Teekay Offshore Partners' common units trade on the New York Stock Exchange
under the symbol "TOO".
Contacts:
Teekay Offshore Partners L.P.
Kent Alekson
Investor Relations Enquiries
+ 1 (604) 609-6442
www.teekayoffshore.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Teekay Offshore Partners L.P. via Thomson Reuters ONE
[HUG#1528669]
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Datum: 06.07.2011 - 00:17 Uhr
Sprache: Deutsch
News-ID 56154
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