Teekay Corporation Contemplates Norwegian Bond Issuance
HAMILTON, BERMUDA -- (Marketwire) -- 09/27/12 -- Teekay Corporation (TK) (Teekay) (NYSE: TK) announces that it intends to issue NOK 500-700 million in new senior unsecured bonds in the Norwegian bond market that mature in October 2015 which, at current conversion rates, have an aggregate principal amount equivalent to approximately USD 85-120 million. The proceeds of the bonds are expected to be used for general corporate purposes. Teekay expects to apply for listing of the bond 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.
Pareto Securities and Nordea Markets have been appointed as Joint Lead Managers of the contemplated bond issuance.
This press release is neither an offer to sell nor a solicitation of an offer to buy any of the bonds or any other security of Teekay. The bonds have not been and will not be registered under the Securities Act or any state securities laws. Unless so registered, the bonds may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. These risks and uncertainties include, but are not limited to, those discussed in Teekay's public filings with the U.S. Securities and Exchange Commission. Teekay undertakes no obligation to revise or update any forward looking statements, unless required to do so under the securities laws.
About Teekay Corporation
Teekay Corporation is an operational leader and project developer in the marine midstream space. Through its general partnership interests in two master limited partnerships (MLPs), Teekay LNG Partners L.P. (NYSE: TGP) and Teekay Offshore Partners L.P. (NYSE: TOO), its controlling ownership of Teekay Tankers Ltd. (NYSE: TNK), and its fleet of directly-owned vessels, Teekay is responsible for managing and operating consolidated assets of over $11 billion, comprised of approximately 150 liquefied gas, offshore, and conventional tanker assets. With offices in 16 countries and approximately 6,400 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world's leading oil and gas companies, and its reputation for safety, quality and innovation has earned it a position with its customers as The Marine Midstream Company.
Teekay's common stock is listed on the New York Stock Exchange where it trades under the symbol "TK".
Contacts: Teekay Corporation Kent Alekson Investor Relations Enquiries +1 (604) 844-6654 www.teekay.com
Source: Teekay Corporation