Two Teekay spinoffs face liquidity shortfalls that will likely lead them to refinance their debt, a Wells Fargo Securities analyst said.
Michael Webber said Teekay Offshore is facing a cash deficit of $45m in 2017 and $94m in 2018, primarily as it faces a $185m balloon payment later this year.
And he said that Teekay LNG faces a "meaningful shortfall" of $377m next year as a result of looming debt maturities, even though it should finish 2017 with a surplus of $322m.
More
