Home About UsPublicationsForumsConsultingContact Us
Back to Earlier Search Results New Search Logout

Links

CMA Shipping 2011

Marine Money Forums

Marine Money Asia Week

Freshly Minted Newsletter

Marine Finance Dashboard

Teekay TOO

On Wednesday after the market closed, Teekay Offshore Partners (“TOO”) announced plans to offer 6,500,000 common units, representing limited partnership interests in another follow-on offering. The agreement with the underwriters also includes a green shoe of 975,000 shares.

Today, the units were priced at $14.32, a discount of 6.77% to yesterday’s closing price of $15.36.

The net proceeds of the offering, approximately $100 million, will be used to repay amounts outstanding under one of their credit facilities, which bears interest at LIBOR plus 0.625% and matures in October 2014. Currently, TOO has in total 7 revolvers which provide

This is only an excerpt of Teekay TOO

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login

Username
Password
 


Related Archive Files

  • No Related Post

Leave a Reply

You must be logged in to post a comment.

Copyright 2008. Marine Money. All Rights Reserved.