Teekay Offshore Partners (TOO) Announces Pricing 6.5M Units At $14.32 Per Unit
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Teekay Offshore Partners L.P. (NYSE: TOO) announced that it has priced its follow-on public offering of 6,500,000 common units, representing limited partner interests, at $14.32 per unit. Teekay Offshore has granted the underwriters a 30-day option to purchase up to an additional 975,000 units to cover over-allotments, if any.
The Partnership expects to use the net proceeds from the public offering to repay amounts outstanding on one of its revolving credit facilities.
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