Teekay Offshore Partners Announces Repurchase of Remaining Bonds Maturing in 2018
October 05 2017 - 8:23PM
Teekay Offshore Partners L.P (NYSE:TOO) (Teekay Offshore or the
Partnership) announces that it has exercised its call option for
the remaining outstanding balances under each of its NOK 420
million Senior Unsecured Bond Agreement with Nordic Trustee AS
dated January 25, 2012 (as amended) with ISIN NO 0010635329 and its
NOK 800 million Senior Unsecured Bond Agreements with Nordic
Trustee AS dated January 21, 2013 (as amended) with ISIN NO
0010670128, respectively, in each case for settlement on November
16, 2017 in accordance with their respective terms. Upon
completion, the Partnership will have repurchased all of its NOK
bonds maturing in 2018.
About Teekay Offshore
Teekay Offshore Partners L.P. is an
international provider of marine transportation, oil production,
storage, long-distance towing and offshore installation and
maintenance and safety services to the oil industry, primarily
focusing on oil production-related activities of its customers and
operating in offshore oil regions of the North Sea, Brazil and the
East Coast of Canada. Teekay Offshore is structured as a
publicly-traded master limited partnership (MLP) with consolidated
assets of approximately $5.6 billion, comprised of 62 offshore
assets, including floating production, storage and offloading
(FPSO) units, shuttle tankers, floating storage and offtake (FSO)
units, units for maintenance and safety (UMS), long-distance towing
and offshore installation vessels and conventional tankers. The
majority of Teekay Offshore's fleet is employed on medium-term,
stable contracts.
Teekay Offshore Partners’ common units and
Series A and B preferred units trade on the New York Stock Exchange
under the symbol “TOO”, “TOO PR A” and “TOO PR B”,
respectively.
For Investor Relations enquiries
contact:
Ryan HamiltonTel: +1 (604) 844-6654Website: www.teekay.com
Forward Looking Statements
This release contains forward-looking statements
(as defined in Section 21E of the U.S. Securities Exchange Act of
1934, as amended) which reflect management's current views with
respect to certain future events and performance, including
statements regarding: the timing and certainty of completing the
bond repurchases. The following factors are among those that could
cause actual results to differ materially from the forward-looking
statements, which involve risks and uncertainties, and that should
be considered in evaluating any such statement: factors discussed
in Teekay Offshore’s filings from time to time with the SEC,
including its Report on Form 20-F for the fiscal year ended
December 31, 2016. The Partnership expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Partnership’s expectations with respect
thereto or any change in events, conditions or circumstances on
which any such statement is based.
Teekay Offshore Partners (NYSE:TOO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Teekay Offshore Partners (NYSE:TOO)
Historical Stock Chart
From Jul 2023 to Jul 2024