Published on 11/29/2001 in the Prospect News High Yield Daily.
New Issue: Teekay Shipping $100 million add-on yields 8.524%
By Paul A. Harris
St. Louis, Mo., Nov. 29 - Teekay Shipping Corp. priced a $100 million add-on to its 8 7/8% senior notes due July 15, 2011 Thursday at 102.25, yielding 8.524%, a syndicate source told Prospect News. Goldman Sachs & Co. was the bookrunner. The original $250 million issue priced June 18, 2001.
| Issuer: | Teekay Shipping Corp.
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| Amount: | $100 million add-on to 8 7/8% notes
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| Maturity | July 15, 2011
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| Type: | Senior notes
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| Bookrunner: | Goldman Sachs & Co.
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| Coupon: | 8.875%
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| Price: | 102.25
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| Yield: | 8.524%
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| Call features: | Make-whole at T+50 basis points
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| Equity clawback: | none
|
| Settlement date: | Dec. 6, 2001
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| Ratings: | Moody's Ba2
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| Standard & Poor's BB- |
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| End
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