Teekay LNG aims to raise $102m in bond sale
The gas shipping unit of Teekay will swap the oversubscribed issuance into a US dollar fixed-rate coupon of 7.89%. The proceeds will be used to refinance existing bonds and for other general corporate purposes
The MLP’s fundraising comes after cash reserves fell to $177.1m at end-June from $244.2m at end-December amid newbuilding deliveries
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