Teekay Corp and Teekay Offshore Partners announced they have closed a previously announced round of financings.
The financing initiatives, which were announced in May and June, will see Teekay Corp receive $350m in bank financings and $100m in new equity, in the form of new preferred shares issued to founder funder Torben Karlshoej.
Teekay chief executive Peter Evensen says the financings help reduce Teekay’s financial leverage and enhanced its liquidity.
