ABERDEEN, Scotland--(BUSINESS WIRE)--
KNOT Offshore Partners LP (the "Partnership") (NYSE:KNOP) announced
today that it plans to offer 4,600,000 common units, representing
limited partner interests, in a public offering. The Partnership expects
to grant the underwriters a 30-day option to purchase an additional
690,000 common units.
The Partnership intends to use the net proceeds that it receives in the
offering and the related capital contribution by its general partner to
maintain its 2% general partner interest to fund the purchase prices of
its previously announced acquisitions of two shuttle tankers, the Hilda
Knutsen and the Torill Knutsen, from Knutsen NYK Offshore
Tankers AS and the remainder for general partnership purposes. If the
Acquisitions do not close, the Partnership will use the net proceeds
from the offering and the related capital contribution by its general
partner for general partnership purposes.
The Partnership owns, operates and acquires shuttle tankers under
long-term charters in the offshore oil production regions of the North
Sea and Brazil. The Partnership is structured as a master limited
partnership. The Partnership’s common units trade on the New York Stock
Exchange under the symbol “KNOP.”
BofA Merrill Lynch, Citigroup, Barclays, Raymond James, RBC Capital
Markets, UBS Investment Bank and Wells Fargo Securities are acting as
the joint book-running managers in connection with the offering. In
addition, ABN AMRO and DNB Markets are acting as the co-managers in
connection with the offering.
When available, copies of the preliminary prospectus supplement,
prospectus supplement and accompanying base prospectus relating to the
offering may be obtained free of charge on the Securities and Exchange
Commission’s website at http://www.sec.gov
or from the underwriters of the offering as follows:
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BofA Merrill Lynch
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222 Broadway
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New York, NY 10038
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Attn: Prospectus Department
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Email: dg.prospectus_requests@baml.com
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Citigroup
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c/o Broadridge Financial Solutions
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1155 Long Island Avenue
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Edgewood, NY 11717
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Telephone: (800) 831-9146
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Barclays
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c/o Broadridge Financial Solutions
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1155 Long Island Avenue
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Edgewood, NY 11717
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Telephone: (888) 603-5847
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Email: barclaysprospectus@broadridge.com
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Raymond James
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880 Carillon Parkway
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St. Petersburg, FL 33716
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Attn: Prospectus Department
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Telephone: (800) 248-8863
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Email: prospectus@raymondjames.com
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RBC Capital Markets
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Attn: Equity Syndicate
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Three World Financial Center
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200 Vesey Street, 8th Floor
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New York, NY 10281
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Telephone: (877) 822-4089
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UBS Investment Bank
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Attn: Prospectus Department
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299 Park Avenue
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New York, NY 10171
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Telephone: (888) 827-7275
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Wells Fargo Securities
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Attn: Equity Syndicate Department
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375 Park Avenue
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New York, NY 10152
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Telephone: (800) 326-5897
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This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The common units in the public offering will be offered
and sold pursuant to an effective registration statement on Form F-3
previously filed with the Securities and Exchange Commission (the "SEC")
(File No. 333-195976). This offering may be made only by means of a
prospectus supplement and accompanying base prospectus, which will be
filed with the SEC.
The statements in this press release that are not historical facts may
be forward-looking statements. These forward-looking statements are
based upon the current beliefs and expectations of the Partnership’s
management and are subject to risks and uncertainties, which could cause
actual results to differ from the forward-looking statements. The
information set forth herein should be read in light of such risks. The
Partnership does not assume any obligation to update the information
contained in this press release.

Source: KNOT Offshore Partners LP