Teekay Offshore: Repurchase of Remaining Bonds Maturing in 2018

Teekay-Offshore

Teekay Offshore Partners announces that it has exercised its call option for the remaining outstanding balances under each of its NOK 420 million Senior Unsecured Bond Agreement with Nordic Trustee AS dated January 25, 2012 (as amended) with ISIN NO 0010635329 and its NOK 800 million Senior Unsecured Bond Agreements with Nordic Trustee AS dated January 21, 2013 (as amended) with ISIN NO 0010670128, respectively, in each case for settlement on November 16, 2017 in accordance with their respective terms.

Upon completion, the Partnership will have repurchased all of its NOK bonds maturing in 2018.

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