The senior unsecured notes will be due in2019, but it has not revealed a target amount.
TOO said the money would go towards fundingnewbuilding instalments, capital conversion projects and future acquisitions ofvessels from Teekay Corporation or third parties.
It also expects to pay off some debt.
The owner will list the notes on the NewYork Stock Exchange.
Banks involved in the issue are Sterne,Agee & Leach, DNB Markets, ABN AMRO, Raymond James and Scotiabank.
TOO
