Teekay Offshore Completes Norwegian Bond Issuance
HAMILTON, BERMUDA--(Marketwire - Jan. 18, 2012) -
Teekay Offshore Partners L.P. (Teekay Offshore or the
Partnership) (NYSE:TOO) announces that it has issued
NOK 600 million in senior unsecured bonds that mature
in January 2017 in the Norwegian bond market. The
aggregate principal amount of the bonds is equivalent
to approximately 100 million U.S. dollars (USD) and
all interest and principal payments will be swapped
into USD. The proceeds of the bonds, which will be
available to the Partnership upon settlement in late
January 2012, 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 and Nordea Markets acted as arrangers of
the bond issue.
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
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, which include
statements involving the contemplated bond offering,
involve risks and uncertainties that could cause the
outcome to be materially different. These risks and
uncertainties include, but are not limited to, the
possibility that the bond issuance may not be
completed in the aggregate principal amount
contemplated, or at all, and 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., a publicly-traded
master limited partnership formed by Teekay
Corporation (NYSE:TK), is an international provider
of marine transportation, oil production and storage
services to the offshore oil industry. Teekay
Offshore owns interests in 40 shuttle tankers
(including four chartered-in vessels and four
committed newbuildings), five floating storage and
offtake (FSO) units, 10 conventional oil tankers, and
three floating production, storage and offloading
(FPSO) units. Teekay Offshore also has rights to
participate in certain other FPSO and shuttle tanker
opportunities provided by Teekay Corporation.
Teekay Offshore Partners' common units trade on the
New York Stock Exchange under the symbol "TOO".
FOR FURTHER INFORMATION PLEASE CONTACT:
Teekay Offshore Partners L.P.
Investor Relations Enquiries
+ 1 (604) 609-6442