TEEKAY PLANS TO RAISE UP TO $500 MILLION

TEEKAY PLANS TO RAISE UP TO $500 MILLION    Teekay Shipping Corp., one of the tanker shipping groups listed on the New York Stock Exchange, has notified the U.S. Securities and Exchange Commission that it may issue one or more series of debt and equity securities for an aggregate amount of up to $500 million.
   “Proceeds from any offering under the registration statement may be used to finance potential acquisitions and for general corporate purposes, including capital expenditures, working capital, and the repayment of debt,” Teekay said.
   With its main operating office in Vancouver, Canada and offices in 11 other countries, Teekay employs more than 4,100 seagoing and shore-based staff worldwide.