Teekay Offshore Completes Norwegian Bond Issuance
January 14 2014 - 10:09AM
Marketwired
Teekay Offshore Completes Norwegian Bond Issuance
HAMILTON, BERMUDA--(Marketwired - Jan 14, 2014) - Teekay
Offshore Partners L.P. (Teekay Offshore or the
Partnership) (NYSE:TOO) announces that it has issued NOK 1,000
million in senior unsecured bonds, maturing in January 2019, in the
Norwegian bond market. The aggregate principal amount of the bonds
is equivalent to approximately 165 million U.S. dollars
(USD). The bond offering was significantly oversubscribed.
The proceeds of the bonds are expected to be used for general
partnership purposes. Teekay Offshore will apply for listing of the
bonds on the Oslo Stock Exchange.
DNB Markets, Nordea Markets and Swedbank Norway acted as Joint
Lead Managers of the 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 U.S. Securities Act of 1933 (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 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 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. is an international provider of
marine transportation, oil production and storage services to the
offshore oil industry focusing on the fast-growing, deepwater
offshore oil regions of the North Sea and Brazil. Teekay Offshore
is structured as a publicly-traded master limited partnership
(MLP) and owns interests in 34 shuttle tankers (including
two chartered-in vessels), five floating production, storage and
offloading (FPSO) units, six floating storage and offtake
(FSO) units (including one committed FSO conversion unit),
four conventional oil tankers and one HiLoad Dynamic Positioning
(DP) unit. The majority of Teekay Offshore's fleet is
employed on long-term, stable contracts. In addition, Teekay
Offshore also has rights to participate in certain other FPSO,
shuttle tanker and HiLoad DP opportunities provided by Teekay
Corporation (NYSE:TK), Sevan Marine ASA (Oslo Bors:SEVAN) and
Remora AS.
Teekay Offshore Partners' common units trade on the New York
Stock Exchange under the symbol "TOO".
For Investor Relations enquiries contact:Teekay Offshore
Partners L.P.Ryan Hamilton+ 1 (604)
609-2963www.teekayoffshore.com
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