Teekay Offshore secures $450 mill shuttle tanker refinancing

May 31 2019

Teekay Offshore Partners has secured a new $450 mill revolving credit facility for 16 shuttle tankers.

This facility will be used to refinance the existing revolving credit facility dated 8th September, 2017, currently fully drawn with outstanding amount of $445 mill, and for general corporate purposes.

The facility is funded by commercial banks and bears interest at LIBOR + 250 basis points with a five-year tenor and a profile of 8.4 years.


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