Teekay LNG Partners Completes Norwegian Bond Offering
August 20 2020 - 3:31PM
Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP)
announces that it has priced NOK 1,000 million in new senior
unsecured bonds that mature in September 2025 in the Norwegian bond
market. The new bond issuance, which was significantly
oversubscribed, has an aggregate principal amount equivalent to
approximately USD 112 million and all payments will be swapped into
a U.S. dollar fixed-rate coupon of approximately 5.74%. Teekay LNG
expects to close the bond offering on September 2, 2020, subject to
customary closing conditions. The net proceeds from the bonds are
expected to be used for general partnership purposes. Teekay LNG
will apply for listing of the new bonds on the Oslo Stock Exchange.
DNB Markets and Nordea acted as Global
Coordinators and Joint Bookrunners; and Credit Agricole Corporate
and Investment Bank, Danske Bank, SEB, Swedbank and Arctic
Securities acted as Joint Bookrunners.
This press release is neither an offer to sell
nor a solicitation of an offer to buy any of the bonds or any other
security of Teekay LNG. The bonds have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
Securities Act), or any state securities laws. Unless so
registered, the bonds may not be offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities
laws.
The statements in this press release that are
not historical facts may be forward-looking statements, and involve
risks and uncertainties that could cause the outcome to be
materially different. Teekay LNG undertakes no obligation to revise
or update any forward looking statements, unless required to do so
under applicable securities laws.
About Teekay LNG
Teekay LNG is one of the world’s largest
independent owners and operators of LNG carriers, providing LNG and
LPG services primarily under long-term, fee-based charter contracts
through its interests in 47 LNG carriers, 23 mid-size LPG carriers,
and seven multi-gas carriers. Teekay LNG’s ownership interests in
these vessels range from 20 to 100 percent. In addition, Teekay LNG
owns a 30 percent interest in a regasification terminal. Teekay LNG
is a publicly-traded master limited partnership formed by Teekay
Corporation (NYSE: TK) as part of its strategy to expand its
operations in the LNG and LPG shipping sectors.
Teekay LNG’s common units and preferred units
trade on the New York Stock Exchange under the symbols “TGP”, “TGP
PR A” and “TGP PR B”, respectively.
For Investor Relations enquiries
contact:
Ryan HamiltonTel: +1 (604) 609-2963Website: www.teekay.com
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