Teekay Offshore Partners Announces Expiration and Final Results of Tender Offer for Any and All of Its 6.00% Senior Notes Due...
July 12 2018 - 12:21AM
Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership)
(NYSE:TOO) announced today, with its wholly-owned subsidiary,
Teekay Finance Corp. (Finance Corp. and, together with the
Partnership, the Issuers), the expiration and final tender results
of their previously announced cash tender offer and related consent
solicitation (the Offer) to purchase any and all of their
outstanding $300 million in aggregate principal amount of 6.00%
Senior Notes due 2019 (the Notes). The Offer expired at 11:59 p.m.,
New York City time, on July 10, 2018 (the Expiration Time).
The Issuers previously accepted for purchase
$222,029,000 in aggregate principal amount of Notes that were
validly tendered (and not validly withdrawn) at or prior to 5:00
p.m., New York City time, on July 2, 2018 (the Early Tender and
Consent Date), and paid for such Notes on July 3, 2018. Additional
tenders were received after the Early Tender and Consent Date but
at or prior to the Expiration Time from holders of Notes
representing approximately $205,000 in aggregate principal amount
of Notes (the Tendered Notes). On July 11, 2018, the Issuers
accepted for purchase all Tendered Notes for an aggregate payment
of approximately $206,400. Consequently, as of July 11, 2018, the
total aggregate principal amount of Notes tendered and cancelled
under the Offer was $222,234,000.
The Offer was made pursuant to the terms and
conditions contained in the Offer to Purchase and Consent
Solicitation Statement, dated as of June 12, 2018 and the related
letter of transmittal, copies of which may be requested from the
Depositary and Information Agent for the Offer, Global Bondholder
Services Corporation, by telephone at (866) 470-3900 or (212)
430-3774 (for eligible institutions only).
Persons with questions regarding the Offer
should contact the Dealer Manager and Solicitation Agent for the
Offer, Citigroup Global Markets Inc., at 388 Greenwich Street, 7th
Floor, New York, New York 10013, Attn: Liability Management Group,
(800) 558-3745 (U.S. Toll-Free) or (212) 723-6106 (Collect).
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.
About Teekay Offshore
Teekay Offshore Partners L.P. is a leading
international midstream services provider to the offshore oil
production industry, focused on the ownership and operation of
critical infrastructure assets 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 $5.7 billion, comprised
of 62 offshore assets, including floating production, storage and
offloading (FPSO) units, shuttle tankers, floating storage and
offtake (FSO) units, long distance towing and offshore installation
vessels, a floating accommodation unit (FAU), and conventional
tankers. The majority of Teekay Offshore’s fleet is employed on
medium-term, stable contracts.
Teekay Offshore's common units and preferred
units trade on the New York Stock Exchange under the symbols "TOO",
"TOO PR A", "TOO PR B" and “TOO PR E”, respectively.
For Investor Relations enquiries
contact:
Ryan HamiltonTel: +1 (604) 609-2963Website: www.teekay.com
Teekay Offshore Partners (NYSE:TOO)
Historical Stock Chart
From May 2024 to Jun 2024
Teekay Offshore Partners (NYSE:TOO)
Historical Stock Chart
From Jun 2023 to Jun 2024