Teekay Announces Final Results of Cash Tender Offer for 5.0% Convertible Senior Notes Due 2023

Source: www.gulfoilandgas.com 2/9/2022, Location: South America

HAMILTON, Bermuda, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Teekay Corporation (Teekay or the Company) today announced the final results of its previously announced cash tender offer (the Tender Offer) for any and all of its outstanding 5.0% Convertible Senior Notes due 2023 (the Notes), which expired at 12:00 midnight, New York City time, on February 9, 2022 (one minute after 11:59 p.m., New York City time, on February 8, 2022) (the Expiration Time).

Based on the final count by Computershare Trust Company, N.A., the depositary for the Tender Offer, $85.0 million aggregate principal amount of the Notes, representing approximately 75.8% of the total Notes outstanding, were validly tendered (and not validly withdrawn) pursuant to the Tender Offer for the purchase price equal to $1,020 per $1,000 principal amount of the Notes, plus any accrued and unpaid interest.

Teekay has accepted for purchase all of the Notes that were validly tendered (and not validly withdrawn) pursuant to the Tender Offer at the Expiration Time and expects to pay approximately $87.0 million for the purchase of the Notes, including accrued and unpaid interest, on the settlement date of February 10, 2022. After settlement, approximately $27.2 million aggregate principal amount of the Notes will remain outstanding.

Morgan Stanley & Co. LLC acted as the dealer manager in connection with the Tender Offer. For all questions relating to the Tender Offer, please call the Information Agent for the Tender Offer, Georgeson LLC, toll free at 1 (866) 767-8867.


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