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KNOT Offshore Partners LP announces public offering of 5,000,000 common units

May 27, 2015

ABERDEEN, United Kingdom--(BUSINESS WIRE)-- KNOT Offshore Partners LP (the “Partnership”) (NYSE:KNOP) announced today that it plans to offer 5,000,000 common units, representing limited partner interests, in a public offering. The Partnership expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 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 cash portion of the purchase price of its previously announced acquisition of the shuttle tanker, Dan Sabia, from Knutsen NYK Offshore Tankers AS (the “Acquisition”) and a prepayment on the senior secured loan facility related to the Dan Sabia, and the remainder for general partnership purposes. If the Acquisition does 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.”

Barclays, BofA Merrill Lynch, Citigroup, Morgan Stanley, UBS Investment Bank, Wells Fargo Securities, Raymond James and RBC Capital Markets are acting as the joint book-running managers in connection with the offering. In addition, BNP PARIBAS and SMBC Nikko 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:

Barclays

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Telephone: (888) 603-5847
Email: barclaysprospectus@broadridge.com

 

   

BofA Merrill Lynch

222 Broadway, New York, NY 10038

Attn: Prospectus Department

email: dg.prospectus_requests@baml.com




 
Citigroup

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Telephone: (800) 831-9146



Morgan Stanley

Attention: Prospectus Department

180 Varick Street, 2nd Floor,

New York, NY 10014




 
UBS Investment Bank

Attn: Prospectus Dept.

1285 Avenue of the Americas

New York, NY 10019

Telephone: (888) 827-7275



Wells Fargo Securities

Attn: Equity Syndicate Department

375 Park Avenue

New York, New York 10152

Telephone: (800) 326-5897

cmclientsupport@wellsfargo.com




 

Raymond James

Attention: Equity Syndicate

880 Carillon Parkway

Tower 3, 5th Floor

St. Petersburg, Florida 33716

Telephone: (800) 248-8863

Email: prospectus@raymondjames.com



RBC Capital Markets

Attention: Equity Syndicate

Three World Financial Center

200 Vesey Street, 8th Floor

New York, New York 10281

Telephone: (877) 822-4089

Email: equityprospectus@rbccm.com




 

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

KNOT Offshore Partners LP

Media:

Arild Vik, 44-758-1899-777

Chief Executive Officer and Chief Financial Officer

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