KNOT Offshore Partners LP Announces Pricing of Public Offering of 4,600,000 Common Units

  KNOT Offshore Partners LP Announces Pricing of Public Offering of 4,600,000
  Common Units

Business Wire

ABERDEEN, Scotland -- June 24, 2014

KNOT Offshore Partners LP (the "Partnership") (NYSE: KNOP) announced today
that it has priced its public offering of4,600,000 common units, representing
limited partner interests, at a price of $28.43 per unit. The Partnership has
granted the underwriters a 30-day option to purchase up to an additional
690,000 common units.

The Partnership intends to use the net proceeds that it receives in the
offering and the related capital contribution by its general partner to
maintain its 2% general partner interest to fund the purchase prices of its
previously announced acquisitions of two shuttle tankers, theHilda Knutsen
and the Torill Knutsen, from Knutsen NYK Offshore Tankers AS and the remainder
for general partnership purposes. If the Acquisitionsdo not close, the
Partnership will use the net proceeds from the offering and the related
capital contribution by its general partner for general partnership purposes.

The Partnership owns, operates and acquires shuttle tankers under long-term
charters in the offshore oil production regions of the North Sea and Brazil.
The Partnership is structured as a master limited partnership. The
Partnership’s common units trade on the New York Stock Exchange under the
symbol “KNOP.”

BofA Merrill Lynch, Citigroup, Barclays, Raymond James, RBC Capital Markets,
UBS Investment Bank and Wells Fargo Securities are acting as the joint
book-running managers in connection with the offering. In addition, ABN AMRO
and DNB Markets are acting as the co-managers in connection with the offering.

When available, copies of the prospectus supplement and accompanying base
prospectus relating to the offering may be obtained free of charge on the
Securities and Exchange Commission’s website at http://www.sec.gov or from the
underwriters of the offering as follows:

BofA Merrill Lynch
222 Broadway
New York, NY 10038
Attn: Prospectus Department
Email: dg.prospectus_requests@baml.com

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (800) 831-9146

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: (888) 603-5847
Email: barclaysprospectus@broadridge.com

Raymond James
880 Carillon Parkway
St. Petersburg, FL 33716
Attn: Prospectus Department
Telephone: (800) 248-8863
Email: prospectus@raymondjames.com

RBC Capital Markets
Attn: Equity Syndicate
Three World Financial Center
200 Vesey Street, 8th Floor
New York, NY 10281
Telephone: (877) 822-4089

UBS Investment Bank
Attn: Prospectus Department
299 Park Avenue
New York, NY 10171
Telephone: (888) 827-7275

Wells Fargo Securities
Attn: Equity Syndicate Department
375 Park Avenue
New York, NY 10152
Telephone: (800) 326-5897
Email: cmclientsupport@wellsfargo.com

This press release does not constitute an offer to sell or a solicitation of
an offer to buy the securities described herein, nor shall there be any sale
of these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. The common units in the
public offering will be offered and sold pursuant to an effective registration
statement on Form F-3 previously filed with the Securities and Exchange
Commission (the "SEC") (File No. 333-195976). This offering may be made only
by means of a prospectus supplement and accompanying base prospectus, which
will be filed with the SEC.

The statements in this press release that are not historical facts may be
forward-looking statements. These forward-looking statements are based upon
the current beliefs and expectations of the Partnership’s management and are
subject to risks and uncertainties, which could cause actual results to differ
from the forward-looking statements. The information set forth herein should
be read in light of such risks. The Partnership does not assume any obligation
to update the information contained in this press release.

Source: KNOT Offshore Partners LP

Contact:

KNOT Offshore Partners LP
Arild Vik
Chief Executive Officer and Chief Financial Officer
+44758 1899 777
 
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