Newly established Teekay Shuttle Tankers has raised $250m in a Norwegian bond sale as part of parent Teekay Offshore Partners' refinancing with new shareholder Brookfield Business Partners.
The subsidiary will pay interest of 7.125% through to August, 2022.
Teekay Shuttle Tankers was set up to own the US-listed partnership's existing and future shuttle tanker business.
In connection with this, Teekay Offshore is buying back NOK 199m ($25.16m)
