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 May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

US Funding for Air Emissions/Alternative Energy Projects

The U.S. Maritime Administration (MARAD) announced that up to $1.3 million in Federal funding is now available through cooperative agreements for projects supporting

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

Shipping Freight Rates Drop Amidst Overcapacity

Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Sonar
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: 0.1063 sec (9 req/sec)