Teekay Offshore Partners LP 8.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

By: ,

Date Issued   1/14/2018

Shares Issued  4,600,000  Overallotment Shares  690,000

S&P Rating  NR   Moodys Rating  NR


Security Ticker Symbol   TOO-E     Temp OTC Ticker  TEOZF

Market Traded ON   NYSE

Dividend Payment Paid on the 15th of February, May, August and November beginning on 5/15/2018

Quarterly Dividend   .555   Annual Dividend   2.22

Securities may be redeemed, at the issuers option, as early as 02/15/2025 for a redemption price of $25/share plus accrued dividends


After 2/15/2025 distributions will be paid at a floating rate of 3 month libor plus 640.7 basis points (6.407%)

Dividend Payment Will Likely be Qualified Distributions

Maturity Date   None
Company Investor Relations Page for Teekay Offshore

Click Here to find final pricing documents

NOTE Teekay Offshore issues 1099’s (not K-1’s)

Tim McPartland

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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