Teekay Offshore Partners Announces Public Offering of Series A Preferred Units
(Thomson Reuters ONE) -
HAMILTON, BERMUDA--(Marketwired - April 22, 2013) - Teekay Offshore Partners
L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) announced today that it
plans to offer Series A Cumulative Redeemable Preferred Units (Series A
Preferred Units), representing limited partner interests, in a public offering.
Teekay Offshore expects to grant the underwriters a 30-day option to purchase
additional Series A Preferred Units to solely cover over-allotments, if any. The
Partnership expects to use the net proceeds from the public offering for general
partnership purposes, including the funding of newbuilding installments, capital
conversion projects and the acquisitions of vessels that Teekay Corporation may
offer to the Partnership. Pending the application of funds for these purposes,
the Partnership expects to repay a portion of its outstanding debt under two of
its revolving credit facilities.
Teekay Offshore is a publicly-traded master limited partnership formed by Teekay
Corporation (NYSE:TK), and is an international provider of marine
transportation, oil production and storage services to the offshore oil industry
focusing on the fast-growing, deep water offshore oil regions of the North Sea
and Brazil. Teekay Offshore currently owns a fleet of 37 shuttle tankers
(including four newbuildings), three floating production, storage and offloading
units, five floating storage and offtake units and six conventional crude oil
Aframax tankers.
Teekay Offshore intends to apply to have the Series A Preferred Units listed on
the New York Stock Exchange.
The joint book-running managers for this offering are BofA Merrill Lynch, Morgan
Stanley and UBS Investment Bank.
When available, copies of the prospectus supplement and accompanying base
prospectus related to this offering may be obtained from BofA Merrill Lynch,
222 Broadway, New York, NY 10038, Attn: Prospectus Department or by emailing
BofA Merrill Lynch at dg.prospectus_requests(at)baml.com; Morgan Stanley, 180
Varick Street, Second Floor, New York, New York 10014; or UBS Investment Bank,
299 Park Avenue, New York, NY 10171, Attn: Prospectus Department.
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. The Series A Preferred Units
will be offered and sold pursuant to an effective registration statement on Form
F-3, which was filed with the Securities and Exchange Commission (the SEC) on
April 22, 2013.
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. These
risks and uncertainties include, but are not limited to, those discussed in
Teekay Offshore's public filings with the SEC. Teekay Offshore undertakes no
obligation to revise or update any forward-looking statements, unless required
to do so under the securities laws.
Contact Information
Teekay Offshore Partners L.P.
Kent Alekson
Investor Relations
+1 (604) 844-6654
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#1694932]
Unternehmensinformation / Kurzprofil:
Datum: 22.04.2013 - 16:10 Uhr
Sprache: Deutsch
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