The New York-listed company said on Tuesday it aimed to sell at least NOK 700m of the unsecured debt.

The bonds mature in May 2020, with interest fixed at 5.92%.

Proceeds will go towards funding newbuilding payments, among other corporate uses.

Danske Bank, DNB Markets, Nordea Markets and Swedbank Norway acted as joint lead managers.

Teekay LNG’s offering came soon after Ocean Yield and Stolt Nielsen successfully raised funds in the Oslo bond market.

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