October 10, 2019
Teekay Shuttle Tankers L.L.C. has successfully placed USD 125 million senior unsecured Green Bonds due October 2024. The Floating Rate Notes will carry a coupon of 3 months LIBOR + 6.50%.
The proceeds from the bond issue will be used in accordance with Teekay Shuttle Tankers’ Green Bond Framework to partially fund four E-Shuttle newbuilds currently under construction and with planned deliveries in 2019 and 2021.
SEB acted as Global Coordinator, Sole Green Advisor and Joint Lead Manager. Danske Bank, DNB and Nordea acted as Joint Lead Managers. An application will be made for the bonds to be listed on Oslo Stock Exchange.
For further information, please contact Jan Rune Steinsland (CFO) at +47 970 52 533 or Terje Selle Rundberg (Finance Director) at + 47 959 69 093
About Teekay Shuttle Tankers L.L.C.
Teekay Shuttle Tankers L.L.C. is a leading owner and operator of shuttle tankers. Teekay Shuttle Tankers L.L.C. (Teekay Shuttle Tankers) and its subsidiaries was formed in July 2017 by Teekay Offshore Holdings L.L.C., a 100% owned subsidiary of Teekay Offshore Partners L.P, an international midstream services provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the offshore oil industry focusing on deep-water offshore oil regions of the North Sea, Brazil and the East Coast of Canada, to expand its operations in the shuttle tanker shipping segment. Teekay Shuttle Tankers is an integral part to an oil company’s value chain as a shuttle tanker is a specialized ship designed to transport crude oil and condensates from offshore oil field installations to onshore terminals and refineries.