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Teekay Offshore Partners LP Completes Norwegian Bond Issuance

Thursday, 10 Jan 2013 04:09pm EST 

Teekay Offshore Partners LP announced that it has issued NOK 1,300 million in senior unsecured bonds that mature in January 2016 (NOK 500 million) and January 2018 (NOK 800 million) in the Norwegian bond market. The aggregate principal amount of the bonds is equivalent to approximately USD 235 million and all payments under each of the two tranches will be swapped into a US dollar fixed-rate coupon. The bond proceeds, which will be available to the Partnership upon settlement in late January 2013, will be used to repay a portion of amounts outstanding under the Partnership's revolving credit facilities and for general partnership purposes. Teekay Offshore will apply for listing of the new bonds on the Oslo Stock Exchange. DNB Markets, Nordea Markets and Swedbank First Securities acted as Joint Lead Managers of the bond issuance. 

Company Quote

-0.17 -0.50%
24 Apr 2014