Teekay Offshore Repurchases a Portion of Existing Norwegian Bonds in Connection With New Norwegian Bond Issuance
1/14/2013 5:34 PM EST
HAMILTON, BERMUDA--(Marketwire - Jan. 14, 2013) -
Teekay Offshore Partners L.P. (Teekay Offshore or the
Partnership) (NYSE:TOO) announces that in connection
with the recently completed NOK 1,300 million bond
issuance in the Norwegian bond market, the
Partnership repurchased NOK 388.5 million of the
existing NOK 600 million Teekay Offshore bond issue
TOP01 (ISIN: NO 001 059142.3) maturing 29 November
2013 at a price of 102.50 percent of the principal
amount of the repurchased bonds.
DNB Markets, Nordea Markets and Swedbank First
Securities acted as Joint Lead Managers of the bond
issuance and agents for the above mentioned
repurchases.
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 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
owns interests in 37 shuttle tankers (including four
chartered-in vessels and four committed
newbuildings), five floating storage and offtake
(FSO) units, six 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
(NYSE:TK) and Sevan Marine ASA (Oslo Bors:SEVAN). The
Partnership has recently accepted an offer from
Teekay Corporation to acquire the Voyageur Spirit
FPSO. The majority of Teekay Offshore's fleet trades
on long-term, stable contracts and it is structured
as a publicly-traded master limited partnership (MLP).
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.
Kent Alekson
Investor Relations Enquiries
+ 1 (604) 609-6442
www.teekayoffshore.com