Teekay Offshore Partners L.P. Announces Entering Into a Distribution Agreement for an Aggregate Offering Price of Up to $100 ...
May 29 2013 - 6:23PM
HAMILTON, BERMUDA--(Marketwired - May 29, 2013) -
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.
Contact
Information
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
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