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 Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

New sanctions threats as Ukraine stalemate goes on

A day after an international deal in Geneva to defuse the East-West crisis in Ukraine, pro-Russian separatists vowed not to end their occupation of public buildings

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1080 sec (9 req/sec)