Teekay Tankers Prices Stock

Tuesday, June 23, 2009

Teekay Tankers Ltd. (NYSE:TNK) announced that it has priced its follow-on public offering of 7,000,000 shares of Class A common stock, at $9.80 per share. The offering is expected to close on June 24, 2009, subject to customary closing conditions. Teekay Tankers has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares to cover any over-allotments. The company expects to use the net offering proceeds to acquire a 2003-built Suezmax tanker (the Ashkini Spirit) from Teekay Corporation for $57m and to repay a portion of its outstanding debt under its revolving credit facility. Upon the company's acquisition of the Ashkini Spirit, the undrawn availability under the revolving credit facility will immediately increase by a further $58m. Any amounts drawn under this facility are not subject to any scheduled principal repayments until at least November 2012.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Oil Price Bottoming Depends on Global Growth - IEA chief

International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed but that would depend on global economic growth. Asked if oil prices had reached a bottom,

ExxonMobil 1Q Profits Plunge 63%

Highlights   * Earnings of $1.8 billion decreased 63 percent from the first quarter of 2015.   * Earnings per share were $0.43 assuming dilution.   * Cash

Shipping, Key Ingredient of EU’s Africa Agenda

The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0756 sec (13 req/sec)