Teekay Offshore’s bonds drop as risks rise – TradeWinds (subscription)

Bondholders growing warier of shuttle tanker and offshore specialist.

Teekay Offshore Partners saw its bonds dive further into high-yield territory amid increasing concerns on the company's liquidity and the potential spillover effect to other Teekay companies.

In trading on the Oslo Stock Exchange, Teekay Offshore's floating rate notes maturing in 2018 are now trading 16% below par, with its floating rate notes maturing 2019 trading 19% below par. The company reported $256.6m in Norwegian kroner denominated debt at the end of last year.

Teekay Offshore's US dollar denominated bonds

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Teekay Offshore's bonds drop as risks rise - TradeWinds (subscription)