EuropeFinance and InsuranceTankers
KNOT Offshore Partners raising $50m via private placement
KNOT Offshore Partners has outlined plans to pocket $50m from a proposed private placement of preferred equity. The company is pushing ahead with a 2.08m new units priced at $24 per unit in a transaction that will close next month.
Net proceeds, KNOT Offshore said in a release, will be used for general partnership purposes, which may include acquisitions, capital expenditures or the repayment of indebtedness.
Last week KNOT Offshore completed its acquisition of the ownership interests in the company that owns and operates the shuttle tanker Raquel Knutsen.