TEEKAY RAISES $144 MILLION IN CONVERTIBLE SECURITIES

TEEKAY RAISES $144 MILLION IN CONVERTIBLE SECURITIES    Teekay Shipping Corp., the tanker shipping company listed on the stock exchange, has completed the previously announced sale of 7.25-percent convertible security units and raised $143.75 million in gross proceeds.
   The sale consisted of 5.75 million units, including 750,000 issued in connection with the exercise by the underwriters of their over-allotment option.
   Proceeds from the offering may be used to finance potential acquisitions and for general corporate purposes, including capital expenditures, working capital, and the repayment of debt, the company said.
   Morgan Stanley & Co. Inc. and Salomon Smith Barney Inc. were the joint book-running managers for the offering.