Teekay Offshore to pay down revolver with common units proceeds

By Sara Rosenberg

New York, Aug. 16 - Teekay Offshore Partners LP plans on repaying borrowings under its revolving credit facility using proceeds from the sale of 5 million common units, according to a 424B5 filed with the Securities and Exchange Commission on Monday.

Teekay is a Hamilton, Bermuda-based provider of marine transportation and storage services to the offshore oil industry.

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