KNOT Offshore Partners LP provided a strategic and operational update, including plans to refinance the outstanding debt of the Tove Knutsen. This refinancing is expected to be achieved through a sale and leaseback deal, anticipated to raise approximately $32 million.
This proactive debt management initiative aims to optimize the partnership's capital structure and enhance its financial flexibility. The successful refinancing of debt maturities is a key focus for the company.
In a move to enhance unitholder value, the partnership also authorized a $10 million common unit repurchase program. This program reflects the Board's capital allocation strategy and commitment to returning capital to investors.
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