Preferred Stock Offerings
By Ru Back Packer Staff, updated Sunday, January 28, 11:11 AM
Slide #318. Teekay Offshore Partners L.P. — Preferred Stock Offering
||Teekay Offshore Partners L.P. (NYSE:TOO)
|Price Per Share:
|Preferred Stock Offering Details:
||Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) announced today that it has priced its public offering of 6,000,000 7.25% Series A Cumulative Redeemable Preferred Units (Series A Preferred Units), representing limited partner interests, at $25.00 per unit. Distributions will be payable on the Series A Preferred Units at an initial rate of 7.25% per annum of the stated liquidation preference of $25.00. The offering is expected to close on April 30, 2013.
Teekay Offshore Partners is an international provider of marine transportation, oil production, storage, towage and floating accommodation services to the offshore oil industry. Co.'s fleet consisted of shuttle tankers, storage and offloading ("FPSO") units, floating storage and off-take ("FSO") units, conventional tankers, towage vessels and floating accommodation units. As of Dec. 31 2014, Co.'s fleet consists of 34 shuttle tankers, seven FPSO units, six FSO units, and four conventional oil tankers. In addition, Co.'s fleet includes six modern on-the-water towing and anchor handling vessels and four long-haul towing and anchor handling vessel newbuildings.
Preferreds: TOO.PRA, TOO.PRB
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