Teekay Offshore Partners Slips on Discounted Common Unit Sale (TOO,TK)
Wednesday, March 17, 2010 - 09:25
Written on Wed, 03/17/2010 - 9:25am
By Chip Brian

3/17/2010-Shares of Teekay Offshore Partners (NYSE:TOO) are trading 5.4% lower to $19.40 Wednesday after the company priced the offering of its planned sale of at least 4.4 million common units at a 5% discount to Tuesday's closing price of $20.50.
The company is raising the capital to pay debt owned to former parent Teekay Corp. (NYSE:TK) and to fund an acquisition.
The units were priced at $19.48, and they recently traded down 5.8% at $19.31 premarket.

Keywords: Teekay offshore unit sale Debt acquisition

Ticker(s): TOO TK

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