Teekay Offshore Partners L.P. Announces Entering Into a Distribution Agreement for an Aggregate Offering Price of Up to $100 ...
May 29 2013 - 5:29PM
Marketwired
Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership)
(NYSE:TOO) announced today that it has filed a prospectus
supplement with the Securities and Exchange Commission (SEC)
through which it may, from time to time, issue common units
representing limited partner interests with an aggregate offering
price of up to $100 million through J.P. Morgan Securities LLC (JP
Morgan) as sales agent.
Sales of common units, if any, will be made by means of ordinary
brokers' transactions on the New York Stock Exchange at market
prices, in block transactions, or as otherwise agreed to between
Teekay Offshore and JP Morgan.
Teekay Offshore is under no obligation to issue common units
under the distribution agreement. The Partnership intends to use
the net proceeds from sales under this program for general
partnership purposes, which may include, among other things,
repaying or refinancing all or a portion of its outstanding
indebtedness and funding future working capital requirements,
capital expenditures, including installments on newbuilds and
expenditures on asset conversions, or acquisitions.
The common units will be offered pursuant to a prospectus
supplement, dated May 29, 2013, to the Partnership's base
prospectus, dated May 17, 2013. Copies of the prospectus supplement
and accompanying base prospectus relating to the offering may be
obtained by visiting EDGAR on the SEC website at www.sec.gov, or by
contacting JP Morgan as follows: J.P. Morgan Securities LLC,
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, Telephone: (866) 803-9204.
In connection with the securities offered under the Registration
Statement on Form F-3 effective as of May 17, 2013, the Partnership
may file on Form 6-K preliminary, unaudited financial results for
each of the four quarters of its fiscal year in advance of its
regular quarterly financial reports on Form 6-K, and its regular
year-end financial report, filed on Form 20-F.
This news release is neither an offer to sell nor a solicitation
of an offer to buy any of these securities and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful. 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, which include statements regarding the proposed
offering of common units and the use of proceeds from the proposed
offering, involve risks and uncertainties that could cause the
outcomes or results to be materially different.
Contacts: Teekay Offshore Partners L.P. Kent Alekson Investor
Relations Enquiries +1 (604) 609-6442 www.teekayoffshore.com
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