Teekay Offshore Contemplates Norwegian Bond Issuance
(Thomson Reuters ONE) -
HAMILTON, BERMUDA--(Marketwire - January 16, 2012) - Teekay Offshore Partners
L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) announced that it intends
to issue 500-700 million NOK in new senior unsecured bonds in the Norwegian bond
market that mature in January 2017 which, at current conversion rates, have an
aggregate principal amount equivalent to approximately USD 80-120 million. The
proceeds of the bonds are expected to be used for general partnership purposes.
In November 2010, Teekay Offshore issued bonds that mature in November 2013,
which are listed on the Oslo Stock Exchange. Teekay Offshore expects to apply
for listing of the new bonds on the Oslo Stock Exchange.
A portion of the bonds may be offered in the United States to qualified
institutional investors (or QIBs) as defined in Rule 144A of the U.S. Securities
Act of 1933 (the Securities Act) concurrently with bonds offered outside of the
United States pursuant to Regulation S of the Securities Act.
DnB Markets and Nordea Markets have been appointed as arrangers of the
contemplated bond issuance.
This press release is neither an offer to sell nor a solicitation of an offer to
buy any of the bonds or any other security of Teekay Offshore. The bonds have
not been and will not be registered under the Securities Act or any state
securities laws. Unless so registered, the bonds may not be offered or sold in
the United States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities laws.
The statements in this press release that are not historical facts may be
forward-looking statements. These forward-looking statements, which include
statements involving the contemplated bond offering, involve risks and
uncertainties that could cause the outcome to be materially different. These
risks and uncertainties include, but are not limited to, the possibility that
the bond issuance may not be completed in the aggregate principal amount
contemplated, or at all, and those discussed in Teekay Offshore's public filings
with the U.S. Securities and Exchange Commission. Teekay Offshore undertakes no
obligation to revise or update any forward looking statements, unless required
to do so under the securities laws.
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 interests in 40 shuttle tankers (including four
chartered-in vessels and four committed newbuildings), five floating storage and
offtake (FSO) units, 10 conventional oil tankers, and three floating production,
storage and offloading (FPSO) units. Teekay Offshore also has rights to
participate in certain other FPSO and shuttle tanker opportunities provided by
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#1577791]
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Datum: 16.01.2012 - 11:02 Uhr
Sprache: Deutsch
News-ID 104207
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