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	<title>Marine Money Archives &#187; Teekay</title>
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	<link>http://www.marine-money.com</link>
	<description>The Ship Finance Publication Of Record</description>
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		<title>Teekay LNG Partners Invests In the Angola LNG Project</title>
		<link>http://www.marine-money.com/archive/teekay-lng-partners-invests-in-the-angola-lng-project</link>
		<comments>http://www.marine-money.com/archive/teekay-lng-partners-invests-in-the-angola-lng-project#comments</comments>
		<pubDate>Thu, 07 Apr 2011 15:15:57 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Angola LNG Project]]></category>
		<category><![CDATA[Barclays Capital]]></category>
		<category><![CDATA[BP Plc]]></category>
		<category><![CDATA[Chevron Corporation]]></category>
		<category><![CDATA[Eni SpA]]></category>
		<category><![CDATA[Goldman]]></category>
		<category><![CDATA[J.P. Morgan]]></category>
		<category><![CDATA[Mitsui & Co]]></category>
		<category><![CDATA[NYK Bulkship (Europe)]]></category>
		<category><![CDATA[Raymond James]]></category>
		<category><![CDATA[Sachs]]></category>
		<category><![CDATA[Sociedade Nacional de Combustiveis de Angola EP]]></category>
		<category><![CDATA[Teekay]]></category>
		<category><![CDATA[Teekay LNG Partners L.P.]]></category>
		<category><![CDATA[Total S.A.]]></category>
		<category><![CDATA[UBS Investment Bank]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10243</guid>
		<description><![CDATA[To facilitate the acquisition of Teekay’s interest in the Angola LNG Project, Teekay LNG Partners L.P. agreed to issue 3.7 million common units at a price of $38.88 per share, a discount of 4% from the closing price just prior to the announcement. Proceeds will be used to fund the equity purchase price of Teekay Corporation’s 33% interest in the Angola LNG Project as payment becomes due while using interim and remaining funds for the repayment of outstanding debt under one of its credit facilities, which matures in August 2018. Net of assumed debt, the total equity purchase price is approximately $73 million subject to adjustment based on actual costs incurred at the time of delivery. The company will acquire the ownership interests and pay a proportionate share of the purchase price as each vessel is delivered which is anticipated to be during the fall of 2011 and in the first quarter of 2012.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>TOO Follows-on Again</title>
		<link>http://www.marine-money.com/archive/too-follows-on-again</link>
		<comments>http://www.marine-money.com/archive/too-follows-on-again#comments</comments>
		<pubDate>Thu, 09 Dec 2010 15:10:27 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BofA Merrill Lynch]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Credit Agricole]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Raymond James]]></category>
		<category><![CDATA[Teekay]]></category>
		<category><![CDATA[Teekay Offshore]]></category>
		<category><![CDATA[UBS]]></category>
		<category><![CDATA[Wells Fargo]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9891</guid>
		<description><![CDATA[Once again utilizing its $750 million shelf registration, Teekay Offshore, on the heels of its August follow-on offering of 5.25 million shares, last week offered to the public a further 5.6 million common units. The units were priced at $28.74, a 4.4% discount to Thursday’s closing price of $29.11. A green shoe of 840 thousand shares has been offered to the underwriters. Proceeds will be used for general partnership purposes, including the acquisition of dropdowns from parent, Teekay]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A Random Talk on Wall Street</title>
		<link>http://www.marine-money.com/archive/a-random-talk-on-wall-street</link>
		<comments>http://www.marine-money.com/archive/a-random-talk-on-wall-street#comments</comments>
		<pubDate>Fri, 06 Aug 2010 01:15:15 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Costamare]]></category>
		<category><![CDATA[Danaos]]></category>
		<category><![CDATA[Global Ship Lease]]></category>
		<category><![CDATA[Peter G]]></category>
		<category><![CDATA[Teekay]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9517</guid>
		<description><![CDATA[This week we spoke with a few shipping investment bankers to get an assessment of what is happening on Wall Street during these hot summer days and what might be waiting in the wings when September arrives. While there are some differing opinions, mainly with respect to the banks, activity in the capital markets remains strong, in general, with strong undercurrents of potential activity in shipping. Some even suggest that we might not have to wait for September, as is typical. In the pipeline are IPOs, follow-ons and even M&#038;A transactions. What follows is a compendium of views on the various opportunities as well as some thoughtful commentary.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>No Hype. We Delivered!</title>
		<link>http://www.marine-money.com/archive/no-hype-we-delivered</link>
		<comments>http://www.marine-money.com/archive/no-hype-we-delivered#comments</comments>
		<pubDate>Thu, 24 Jun 2010 21:33:08 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Alan Ginsberg]]></category>
		<category><![CDATA[Alan Shaw]]></category>
		<category><![CDATA[Andre Vergottis]]></category>
		<category><![CDATA[B of A Merrill Lynch]]></category>
		<category><![CDATA[Ban Huat Ouah]]></category>
		<category><![CDATA[Blank Rome]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[Brett Esber]]></category>
		<category><![CDATA[Brian Sondey]]></category>
		<category><![CDATA[Buss Group]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Clipper Group]]></category>
		<category><![CDATA[Craig Fuehrer]]></category>
		<category><![CDATA[Dahlman Rose]]></category>
		<category><![CDATA[Dale Ploughman]]></category>
		<category><![CDATA[Dan Rodgers]]></category>
		<category><![CDATA[Danaos]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[DnB]]></category>
		<category><![CDATA[DryShip]]></category>
		<category><![CDATA[Eagle]]></category>
		<category><![CDATA[Efthymios Bouloutas]]></category>
		<category><![CDATA[Elliot Etheredge]]></category>
		<category><![CDATA[EXCEL]]></category>
		<category><![CDATA[Farlay & Williams]]></category>
		<category><![CDATA[FBR]]></category>
		<category><![CDATA[Felipe Menendez]]></category>
		<category><![CDATA[Fortis Bank Nederland]]></category>
		<category><![CDATA[François Trahan]]></category>
		<category><![CDATA[Frank Jensen]]></category>
		<category><![CDATA[Gerrit Parker]]></category>
		<category><![CDATA[Guillaume Deve]]></category>
		<category><![CDATA[Gust Biesbroeck]]></category>
		<category><![CDATA[Howe Robinson]]></category>
		<category><![CDATA[Ismini Panayotides]]></category>
		<category><![CDATA[Jakob Tolstrup-Moller]]></category>
		<category><![CDATA[James Christodoulou]]></category>
		<category><![CDATA[Johann Killinger]]></category>
		<category><![CDATA[John Coustas]]></category>
		<category><![CDATA[Kristin Holth]]></category>
		<category><![CDATA[Loli Wu]]></category>
		<category><![CDATA[Marfin]]></category>
		<category><![CDATA[Maritime Strategies International]]></category>
		<category><![CDATA[Mark Williams]]></category>
		<category><![CDATA[Michael Bodouroglou]]></category>
		<category><![CDATA[Morten Arntzen]]></category>
		<category><![CDATA[Morten Hay Ingebrigsten]]></category>
		<category><![CDATA[Navios]]></category>
		<category><![CDATA[Newlead]]></category>
		<category><![CDATA[Nigel Thomas]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[NSF]]></category>
		<category><![CDATA[OSG]]></category>
		<category><![CDATA[Pacific Basin]]></category>
		<category><![CDATA[Pankaj Khanna]]></category>
		<category><![CDATA[Paragon]]></category>
		<category><![CDATA[Paul Dowell]]></category>
		<category><![CDATA[Paul Miller]]></category>
		<category><![CDATA[Peter Evensen]]></category>
		<category><![CDATA[Ralf Bedranowsky]]></category>
		<category><![CDATA[Rickmers]]></category>
		<category><![CDATA[Ronny Bjornadal]]></category>
		<category><![CDATA[Sean Durkin]]></category>
		<category><![CDATA[Seanergy]]></category>
		<category><![CDATA[Sheldon Goldman]]></category>
		<category><![CDATA[Simon Rose]]></category>
		<category><![CDATA[TAL International]]></category>
		<category><![CDATA[TCC]]></category>
		<category><![CDATA[Ted Petrone]]></category>
		<category><![CDATA[Teekay]]></category>
		<category><![CDATA[Ultrapetrol]]></category>
		<category><![CDATA[Watson]]></category>
		<category><![CDATA[Wolfe Trahan & Co.]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9446</guid>
		<description><![CDATA[Our Chairman’s promotions are sheer artistry and we constantly marvel at these masterful gems. Of course, there are issues with punctuation but why let that get in the way of a great pitch. The amazing thing is that despite his protests otherwise, he really does get it. Our problem is that he is rubbing off on us and we are moving from analytical and objective to the dark side where it’s all about the love as both Matt and he are fond of saying. In the case of this year’s Marine Money week, there is no doubt we got it right. The numbers speak for themselves. This year we went out on a limb denoting the theme as the Comeback or Confidence Returns to Ship Finance. Whether or not that was the case and we believe it is, 1,078 registered guest wanted to hear the answer. This was a new record surpassing 2008’s 1042 guests. Uncertainty + optimism trump a boom.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Wedding Season or Offshore Consolidation Takes Two Giant Steps</title>
		<link>http://www.marine-money.com/archive/wedding-season-or-offshore-consolidation-takes-two-giant-steps</link>
		<comments>http://www.marine-money.com/archive/wedding-season-or-offshore-consolidation-takes-two-giant-steps#comments</comments>
		<pubDate>Thu, 24 Jun 2010 21:27:32 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Acergy S.A.]]></category>
		<category><![CDATA[BW Offshore]]></category>
		<category><![CDATA[Carnegie]]></category>
		<category><![CDATA[DnB]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[First Security]]></category>
		<category><![CDATA[Helge Andre Martinsen]]></category>
		<category><![CDATA[Ingolf Gillesdal]]></category>
		<category><![CDATA[Lars-Daniel Westby]]></category>
		<category><![CDATA[Modec]]></category>
		<category><![CDATA[Mr. Westby]]></category>
		<category><![CDATA[Nordea]]></category>
		<category><![CDATA[Pareto]]></category>
		<category><![CDATA[Pareto Securities]]></category>
		<category><![CDATA[Prosafe Production]]></category>
		<category><![CDATA[Prosafe Production Public Limited]]></category>
		<category><![CDATA[Saipem]]></category>
		<category><![CDATA[SBM]]></category>
		<category><![CDATA[Subsea 7 Inc.]]></category>
		<category><![CDATA[Technip]]></category>
		<category><![CDATA[Teekay]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9442</guid>
		<description><![CDATA[Monday was a big day in the offshore sector with two major transactions announced. First BW Offshore (“BWO”) made a voluntary exchange offer for all of the shares of Prosafe Production Public Limited it does not currently own. The company is offering 1.2 BWO shares and NOK 5.25 in cash for each share, which consideration equates to NOK 16.21 based upon Friday’s closing price, valuing Prosafe at approximately NOK 4.1 billion or a 17% premium to Prosafe’s closing price on Friday. BWO currently owns directly or indirectly 23.88% of the total outstanding shares with a wholly owned subsidiary owning a further 6.1%. Presently BW Group owns 66.95% of the total number of shares in BWO and will be diluted to approximately 47% to 49% shareholding in the combined company based upon an acceptance level of between 90% and 100%. The combination will create an FPSO company with the diversification, presence, resources and competence to meet the increasing requirements from both clients and regulators. ]]></description>
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		</item>
		<item>
		<title>No Pressure Just a Must Deal</title>
		<link>http://www.marine-money.com/archive/no-pressure-just-a-must-deal</link>
		<comments>http://www.marine-money.com/archive/no-pressure-just-a-must-deal#comments</comments>
		<pubDate>Thu, 17 Jun 2010 14:10:56 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Credit Suisse]]></category>
		<category><![CDATA[Dahlman Rose]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[Fearnley Fonds]]></category>
		<category><![CDATA[General Maritime]]></category>
		<category><![CDATA[Goldman Sachs]]></category>
		<category><![CDATA[J.P. Morgan]]></category>
		<category><![CDATA[Jefferies]]></category>
		<category><![CDATA[OSG]]></category>
		<category><![CDATA[RS Platou]]></category>
		<category><![CDATA[Teekay]]></category>
		<category><![CDATA[Wells Fargo]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9338</guid>
		<description><![CDATA[General Maritime pulled out all the stops retaining a litany of Wall Street’s bankers to assist in the sale of its common stock needed to complete the financing of five VLCCS and two newbuilding Suezmax tankers from Metrostar. Debt financing is in the process of being arranged, with Nordea and DnB NOR, in the amount of $372 million, representing 60% of the purchase price. The facility is conditioned upon a successful equity offering to make up the remaining balance of $248 million plus any working capital needed. In this period of volatility in the markets, this is no simple deal. Adding further complications was S&#038;P’s recent downgrade of the company’s debt to a B rating. This rating however needs to be put in the context of S&#038;P’s overall view of shipping, which considers Teekay and OSG as BB and BB- rated respectively a few notches above Genmar’s.]]></description>
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		</item>
		<item>
		<title>Markets In Disarray</title>
		<link>http://www.marine-money.com/archive/markets-in-disarray</link>
		<comments>http://www.marine-money.com/archive/markets-in-disarray#comments</comments>
		<pubDate>Thu, 27 May 2010 18:02:08 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Angeliki Frangou]]></category>
		<category><![CDATA[Anthony Kandylidis]]></category>
		<category><![CDATA[Basset Holdings]]></category>
		<category><![CDATA[Berlian Laju Tankers]]></category>
		<category><![CDATA[Bob Burke]]></category>
		<category><![CDATA[Chris Wetherbee]]></category>
		<category><![CDATA[Crude Carriers]]></category>
		<category><![CDATA[Danatama Makmur]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[FBR Capital Markets]]></category>
		<category><![CDATA[Gemini]]></category>
		<category><![CDATA[Heidmar]]></category>
		<category><![CDATA[Jefferies]]></category>
		<category><![CDATA[Navios Maritime Acquisition]]></category>
		<category><![CDATA[Navios Maritime Holdings]]></category>
		<category><![CDATA[Oceanfreight]]></category>
		<category><![CDATA[Ridgebury Tankers]]></category>
		<category><![CDATA[Scorpio Tankers]]></category>
		<category><![CDATA[Standard Chartered]]></category>
		<category><![CDATA[Teekay]]></category>
		<category><![CDATA[Tunggaladhi Baskara]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=9201</guid>
		<description><![CDATA[The equity markets can best be described as volatile, although that characterization may be kind, as they seem to be heading in one direction only. Two companies, Ridgebury Tankers and Navios Maritime Acquisition have braved the onslaught but we suspect would have preferred a better choice of timing. Unlike the preceding IPO offerings, Crude Carriers and Scorpio Tankers, that took place earlier this year, Ridgebury is not the master of its fate. Specifically, its vessels are on option from a third party seller, Teekay, as opposed to an affiliated party, which implies certain time limitations. Despite the switchover from the Gemini to Heidmar pool, they remain on the road for a second week. As a firm believer in no news is good news, we remain hopeful that Bob Burke and his team along with Jefferies will be successful.]]></description>
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		</item>
		<item>
		<title>Marine Money Capital Market League Tables</title>
		<link>http://www.marine-money.com/archive/marine-money-capital-market-league-tables</link>
		<comments>http://www.marine-money.com/archive/marine-money-capital-market-league-tables#comments</comments>
		<pubDate>Thu, 06 May 2010 14:55:53 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Deutsche]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[JP Morgan]]></category>
		<category><![CDATA[Morgan Stanley]]></category>
		<category><![CDATA[OSG]]></category>
		<category><![CDATA[Pareto]]></category>
		<category><![CDATA[Teekay]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=8952</guid>
		<description><![CDATA[Deutsche, Morgan Stanley, DnB NOR, JP Morgan, Pareto and Citi  Top League tables from Busy start of the year

By almost every measure, the start of 2010 has been a good one for those working in the capital markets for shipping. Over $2 billion has been raised in the US public equities markets, while in excess of $2 billion has been raised in the Western public debt markets.  What is more another $2 billion in shelf registrations have been filed, with many additional projects at various stages of development.]]></description>
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		</item>
		<item>
		<title>Insatiable!</title>
		<link>http://www.marine-money.com/archive/insatiable</link>
		<comments>http://www.marine-money.com/archive/insatiable#comments</comments>
		<pubDate>Thu, 08 Apr 2010 17:55:49 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[J.P. Morgan]]></category>
		<category><![CDATA[Teekay]]></category>
		<category><![CDATA[Teekay Tankers]]></category>
		<category><![CDATA[UBS]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=8813</guid>
		<description><![CDATA[Investors cannot seem to be able to get enough of the shares and bonds of Teekay and its subsidiaries. In the latest iteration, Teekay Tankers announced Monday, after market close, its intention to offer 7 million shares of Class “A” common stock of the company in a public offering. But even before the market opened the next day, the company announced that the offering had been increased to 7.7 million shares, following the trend of Teekay’s previous offerings. ]]></description>
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		</item>
		<item>
		<title>Capital Link</title>
		<link>http://www.marine-money.com/archive/capital-link</link>
		<comments>http://www.marine-money.com/archive/capital-link#comments</comments>
		<pubDate>Thu, 25 Mar 2010 19:52:30 +0000</pubDate>
		<dc:creator>carisk</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[Market Commentary]]></category>
		<category><![CDATA[Blank Rome]]></category>
		<category><![CDATA[Brett Esber]]></category>
		<category><![CDATA[Deloite Hadjipavlou Sofianos & Cambanis]]></category>
		<category><![CDATA[Fortis Bank Nederland]]></category>
		<category><![CDATA[George Cambanis]]></category>
		<category><![CDATA[Gust Biesbroeck]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[Peter Evensen]]></category>
		<category><![CDATA[Robin Das]]></category>
		<category><![CDATA[Teekay]]></category>

		<guid isPermaLink="false">http://marine-money.com/?p=8776</guid>
		<description><![CDATA[Following on the heels of CMA, today was the 4th Annual Capital Link Shipping Forum in New York. As always it was well attended with a full schedule of presentations and panels. The most intriguing for us was the bankers’ panel which was moderated by George Cambanis of Deloite Hadjipavlou Sofianos &#038; Cambanis and included Robin Das of HSH Nordbank, Gust Biesbroeck of Fortis Bank Nederland and Brett Esber of Blank Rome.]]></description>
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