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Article: Teekay Offshore Partners Signs $260 Million Petrojarl Varg FPSO Facility.
- Article from:
- Marketwire Canada
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HAMILTON, BERMUDA, Nov 12, 2009 (Marketwire via COMTEX) -- Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) announced today that it has signed a $260 million revolving credit facility secured by the Petrojarl Varg Floating Production Storage and Offloading unit (Petrojarl Varg FPSO) which was recently acquired from Teekay Corporation (Teekay) (NYSE:TK). A portion of the new facility will be drawn to repay the $160 million Tranche A of the $220 million vendor financing provided by Teekay at the time of the Petrojarl Varg FPSO acquisition. The $60 million Tranche B of the vendor financing will remain outstanding. The undrawn portion of the new ...