Service & Supply | Finance & Investing | Oilfield Services | Fundraising | Capital Markets
Teekay Offshore Plans Public Offering of Units
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Teekay Offshore Partners L.P. plans to offer Series B Cumulative Redeemable Preferred Units, representing limited partner interests, in a public offering.
Teekay Offshore expects to grant the underwriters a 30-day option to purchase additional Series B Preferred Units. The Partnership intends to use the net proceeds from the public offering for general partnership purposes, including the funding of newbuilding installments, capital conversion projects and the acquisitions of vessels that Teekay Corporation has offered or may offer to us, which may include funding our acquisition of the Petrojarl Knarr FPSO unit from Teekay Corporation.