Teekay Offshore Agrees USD 100 Mn FPSO Fleet Refinancing

Teekay-Offshore

Teekay Offshore announced that it has secured a new $100 million revolving credit facility for the Piranema Spirit, Voyageur Spirit, and Petrojarl Varg FPSO units.

The previous credit facility matured at the same time with a balloon payment of $35 million.

The new facility is funded by commercial banks and bears interest at LIBOR + 300 basis points with a three-year tenor and a profile of 5.5 years.

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