News from our Members and Partners

20 June 2019

WFW advises Teekay on US$250m private offering

Watson Farley & Williams (“WFW”) advised long-standing client Teekay Corporation (“Teekay”) on its offering of US$250m 9.25% senior secured notes due November 2022 and Teekay’s cash tender offer to purchase any and all of its outstanding $497.7m of 8.5% senior notes due 2020.

WFW advised on the New York, Marshall Islands and English law aspects of the transactions, including relating to certain collateral security granted on the notes.

Teekay is a leading provider of international crude oil and gas marine transportation services and also provides offshore production and logistics. Teekay provides these services primarily through its directly-owned fleet and its controlling ownership interests in Teekay LNG Partners L.P., the world’s third largest independent owner and operator of LNG carriers, and Teekay Tankers Ltd., one of the world’s largest owners and operators of mid-sized crude tankers.

The consolidated Teekay entities manage and operate total assets under management of approximately US$11bn, comprised of approximately 155 liquefied gas, offshore, and conventional tanker assets. With offices in 12 countries and approximately 5,600 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world’s leading oil and gas companies.

The WFW New York team advising Teekay on this transaction was led by Partners Steve Hollander and Daniel Rodgers, assisted by Associate Daniel Berger. The WFW London team working alongside them was led by Partners Patrick Smith and Christina Howard and assisted by Associates Hayley Arrow and Tanpreet Rooprai.

Steve commented:

“We are delighted to have advised Teekay on this transaction. Our role on this deal demonstrates the strength and depth of our New York corporate and maritime capabilities.”

Patrick added:

“We are pleased we were able to use our sector knowledge and relationships in the maritime industry to advise Teekay and facilitate the successful completion of this transaction.”


About Watson Farley & Williams:

Watson Farley & Williams is an international law firm with offices in Athens, Bangkok, Dubai, Frankfurt, Hamburg, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Rome and Singapore. The firm currently has 500+ lawyers and over 900 staff. Watson Farley & Williams is a leading international law firm providing services of high quality and value to clients throughout a range of industry sectors, with particular focus on: Energy & Infrastructure, Maritime, Natural Resources, Real Estate and Transport. Lawyers from our international offices work as integrated teams to provide practical, commercially focused legal services. Our locations allow us sufficient geographical spread to be competitive in the global market and to provide consistently high quality legal services to our clients. w:

Member Highlight

Oceanology International 2020

The Oceanology International portfolio of events offers world leading exhibitions and conferences where industry, academia and government share knowledge and connect with the marine science and ocean technology communities.

Read more