• 2014 November 30 09:00

  Teekay Offshore Partners announces $175 mln direct equity placement

  

  Teekay Offshore GP LLC., the general partner of Teekay Offshore Partners L.P., announced today that it has agreed to issue 6.70 million common units to a group of institutional investors for proceeds of approximately $175.0 million (excluding the Partnership's general partner's proportionate capital contribution). The common units are being registered pursuant to a registration statement on Form F-3 previously filed and declared effective by the Securities and Exchange Commission. The Partnership intends to use the proceeds from the sale of common units for general partnership purposes, including funding newbuilding installments, capital conversion projects and future acquisitions of vessels, the company said in its press release.

  About Teekay Offshore Partners L.P.
  Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production, storage services and floating accommodation to the offshore oil industry focusing on the fast-growing, deepwater offshore oil regions of the North Sea and Brazil.

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