PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 3:18 PM
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Slide #513. Teekay Offshore Partners L.P. — Preferred Stock Offering
Company:
Teekay Offshore Partners L.P. (TOO)
Date announced:
4/23/2013
Shares Offered:
6,000,000
Price Per Share:
$25.00
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 midstream services provider of marine transportation, oil production, storage, long-distance towage and offshore installation and maintenance and safety services to the offshore oil industry focusing on the deep-water offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Co. is is engaged in the international marine transportation of crude oil, the offshore processing and storage of crude oil, long-distance ocean towage and offshore installation services, and maintenance and safety services through the operation of its shuttle and conventional tankers, FSO units, FPSO units, towage and offshore installation vessels and UMS.
Preferreds: TOO.PRA, TOO.PRB, TOO.PRE
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Avg. Broker Rec.
 
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Hold (2.00 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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