Newly revamped Teekay Offshore Partners (ticker symbol: TOO) is off to a fast start in refinancing nearly $700m in outstanding bond debt after pricing a fresh $250m issue of five-year notes in the Oslo market.
The bonds, issued by the just-created Teekay Shuttle Tankers arm of Teekay Offshore Partners, sold virtually concurrently with last week’s announcement that Brookfield Business Partners would recapitalise Teekay Offshore Partners through a $610m injection.
