US-listed Teekay Offshore Partners has secured a new $414m debt facility to fund four LNG-fuelled shuttle tanker newbuildings.

The company said long-term financing covers the suezmax DP2 vessels due in 2019 and 2020.

Two of these will work for Norway's Equinor under its master agreement, while the others will join its contract of affreightment fleet in the North Sea.

The new facility is funded and guaranteed by both Canadian and Norwegian export credit agencies, as well as commercial banks.

It carries interest at Libor plus 225 basis points over 12 years from delivery.

“We are grateful for the continued strong support we receive from our growing bank group, as represented by our new $414m debt facility,” said CEO Ingvild Saether.

The company has six 129,000-dwt shuttle tankers on order at Samsung in Korea, with the first due in November.