Teekay Tankers Announces Asset Sales and New Debt Facility - Seite 2

“We are also grateful for the continued strong support we receive from our bank group, as represented by our new $533 million debt facility, which was approximately two times oversubscribed, and provides the Company with increased financial flexibility.”

About Teekay Tankers

Teekay Tankers currently owns a fleet of 55 double-hull tankers (including 29 Suezmax tankers, 17 Aframax tankers and nine LR2 product tankers), has six time-chartered-in tankers, and has interests in five ship-to-ship support vessels. Teekay Tankers also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. Teekay Tankers’ vessels are typically employed through a mix of short- or medium-term fixed-rate time charter contracts and spot tanker market trading. In addition, Teekay Tankers owns a ship-to-ship transfer business. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business.

Teekay Tankers’ common stock trades on the New York Stock Exchange under the symbol “TNK”.

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel: [phone]
Website: www.teekay.com

Forward-Looking Statements

This release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current views with respect to certain future events and performance, including: the expected timing of vessel sale deliveries, the timing and certainty of closing the sale of a portion of the Company’s ship-to-ship transfer business; the Company’s ability to continue benefitting from U.S. oil imports and growing U.S. oil exports; the impact of asset sales on the Company’s liquidity and financial leverage; and the impact of the new debt facility on the Company’s financial flexibility. The following factors are among those that could cause actual results to differ materially from the forward-looking statements, which involve risks and uncertainties, and that should be considered in evaluating any such statement: potential delays in vessel sale deliveries and closing the sale of a portion of the Company’s ship-to-ship transfer business; failure to close the sale of the Company’s ship-to-ship transfer business or vessel sales; changes in U.S. oil import or export volumes; and other factors discussed in Teekay Tankers’ filings from time to time with the United States Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended December 31, 2018. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.