Teekay Shuttle Tankers Eyes USD 150 Mn to Finance Newbuilds

Bermuda-based Teekay Shuttle Tankers is looking to raise up to USD 150 million to finance its newbuild series under construction.

Namely, the company has mandated Danske Bank, DNB Markets, Nordea and Skandinaviska Enskilda Banken AB to arrange a series of fixed income investor meetings in Bergen, Helsinki, Stockholm and Oslo starting on October 2, 2019.

Subject to inter alia market conditions, a senior unsecured green bond issue of up to USD 150 million may follow.

Teekay Shuttle Tankers’ green bond framework has a second opinion from CICERO and has received a CICERO light green shading, the company explained.

The proceeds from the potential bond issue will be used to partially fund the E-Shuttle newbuild series currently under construction.