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Teekay Offshore Partners, 8.875% Series E Fixed/Float Cumul Red Perp Prfd Units
Ticker Symbol: TOO-E     CUSIP: Y8565J176     Exchange: NYSE
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:   Teekay Offshore Partners L.P., 8.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25 per unit, redeemable at the issuer's option on or after 2/15/2025 at $25 per unit plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.875% per annum ($2.21875 per annum or $0.5546875 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be the fifth business day immediately preceding the payment date (NOTE: the ex-dividend date is one business day prior to the record date). From and including 2/15/2025, the distribution rate will be a floating rate equal to three-month LIBOR plus a spread of 640.7 basis points per annum. Dividends paid by these preferred units are generally eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see the prospectus for extensive further information starting at page S-90). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred units rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common units of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Cpn Rate
Ann Amt
Call Date
Matur Date
Distribution Dates 15%
Tax Rate
2/15, 5/15, 8/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date

Goto Parent Company's Record (TOO)

IPO - 1/16/2018 - 4.60 Million Units @ $25.00 /unit.    Link to IPO Prospectus
Previous Ticker Symbol: TEOZF    Changed: 1/25/2018
Market Value $115.0 Million

Company's Online Information Links
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Company's Online SEC EDGAR Filings
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Company's Email Address Links
Email Address

Foreign Address and Phone Numbers
Address:   4th floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda
Main Phone Number 441-298-2530
Fax Number 441-292-3931
Inv Rel Phone Number 441-298-2530

Address and Phone Numbers
U.S. Representative N.A.
Main Phone Number Not Available
Fax Number Not Available
Investor Relations   Ryan Hamilton 604-609-2963
Toll Free Phone Number Unknown
CEO - Ingvild Sæther CFO - David Wong

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