It has been a very eventful year so far TNK and yesterdays closing (as below) has given investors some reassurance that the future is secured,BUY Volume has increased considerably and as earnings approach this could be a real winner at the current entry level.
Teekay Corporation, +2.01% announced the closing of its previously announced offering of $250 million in aggregate principal amount of 9.25% senior secured notes due November 2022 (the Notes). In addition, the Company announced that it had completed the early settlement of its cash tender offer to purchase any and all of its outstanding $497.7 million of 8.5% senior notes due 2020 (the 2020 Notes and such tender offer, the Offer), pursuant to which the Company purchased approximately $458.0 million in aggregate principal amount of 2020 Notes that were validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time, on May 7, 2019, for cash consideration of $1,032.50 per $1,000 in principal amount of 2020 Notes, plus accrued and unpaid interest.
Company Description
Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Conventional Tanker and Ship-to-Ship (STS) Transfer segment. The Conventional Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts. The STS Transfer segment offers lightering support services provided to conventional tanker segment as part of the full service lightering operations
Teekay Corporation, +2.01% announced the closing of its previously announced offering of $250 million in aggregate principal amount of 9.25% senior secured notes due November 2022 (the Notes). In addition, the Company announced that it had completed the early settlement of its cash tender offer to purchase any and all of its outstanding $497.7 million of 8.5% senior notes due 2020 (the 2020 Notes and such tender offer, the Offer), pursuant to which the Company purchased approximately $458.0 million in aggregate principal amount of 2020 Notes that were validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time, on May 7, 2019, for cash consideration of $1,032.50 per $1,000 in principal amount of 2020 Notes, plus accrued and unpaid interest.
Company Description
Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. It operates through the Conventional Tanker and Ship-to-Ship (STS) Transfer segment. The Conventional Tanker segment includes the operations of all the tankers, including those employed on full service lightering contracts. The STS Transfer segment offers lightering support services provided to conventional tanker segment as part of the full service lightering operations