TOO eyes fundraiser

Teekay Offshore Partners is looking to raise fresh funds according to a financial disclosure to US regulatory authorities.

The US-listed company has filed a $500m shelf registration with the US Securities and Exchange Commission (SEC).

Net proceeds from any sale of shares would go towards paying down debt and funding working capital, capital expenditures or acquisitions.

In mid-May Teekay Offshore tapped the bond market when it raised $275m from a five-year senior unsecured notes due 2019.

The company has been in expansion mode recently with moves into the floating accommodation sector and deepsea towage.

The master limited partnership (MLP) owns interests in 35 shuttle tankers, five FPSOs, six FSOs, four long-haul towing and anchor handler newbuildings and four crude tankers.

Earlier this week sister company Teekay Tankers filed a $200m shelf registration with US financial regulators.