Teekay Offshore Norwegian Bond
Bermuda-based Teekay Offshore Partners L.P. intends to issue 500-700 million NOK in new senior unsecured bonds in the Norwegian bond market that mature in January 2017 which, at current conversion rates, have an aggregate principal amount equivalent to approximately USD 80-120 million.
A statement from the Company said, “The proceeds of the bonds are expected to be used for general partnership purposes. In November 2010, Teekay Offshore issued bonds that mature in November 2013, which are listed on the Oslo Stock Exchange. Teekay Offshore expects to apply for listing of the new bonds on the Oslo Stock Exchange.
“A portion of the bonds may be offered in the United States to qualified institutional investors (or QIBs) as defined in Rule 144A of the U.S. Securities Act of 1933 (the Securities Act) concurrently with bonds offered outside of the United States pursuant to Regulation S of the Securities Act.
“DnB Markets and Nordea Markets have been appointed as arrangers of the contemplated bond issuance.”
