THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO
THE FOLLOWING REGISTRATION STATEMENTS OF TEEKAY LNG PARTNERS L.P.:
|
|
|
REGISTRATION STATEMENT ON FORM S-8
(NO.333-124647) FILED WITH THE SEC ON MAY 5, 2005
|
|
|
|
REGISTRATION STATEMENT ON FORM F-3
(NO.333-190783) FILED WITH THE SEC ON AUGUST 22, 2013
|
|
|
|
REGISTRATION STATEMENT ON FORM F-3
(NO.333-225584) FILED WITH THE SEC ON JUNE 12, 2018
|
Item 1 Information
Contained in this Form 6-K Report
On May 9, 2020, Teekay LNG Partners L.P. (Teekay LNG)
entered into an Exchange Agreement (the Exchange Agreement) with Teekay GP L.L.C. (the General Partner), the general partner of Teekay LNG and a wholly-owned indirect subsidiary of Teekay Corporation ( Teekay),
pursuant to which all of the incentive distribution rights representing limited partner interests in Teekay LNG (the IDRs) were contributed by the General Partner to Teekay LNG for cancellation in exchange for the issuance by Teekay LNG
to the General Partner of 10,750,000 common units representing limited partner interests in Teekay LNG (the New Common Units) (such transaction, the Exchange Transaction).
The terms of the Exchange Agreement were approved on behalf of Teekay LNG by the conflicts committee (the Conflicts Committee) and the board of
directors of the General Partner. The Conflicts Committee, which is comprised of independent members of the board of directors of the General Partner, retained independent legal and financial advisors to assist it in evaluating and negotiating the
Exchange Transaction.
The Exchange Agreement was executed on May 9, 2020, and the closing of the Exchange Transaction, including the cancellation of
the IDRs, occurred on May 11, 2020. As of May 11, 2020, and following the closing of the Exchange Transaction, Teekay indirectly owns 35,958,274 common units of Teekay LNG.
In connection with the Exchange Agreement, the General Partner amended and restated the Fourth Amended and Restated Agreement of Limited Partnership of the
Partnership dated as of January 1, 2019 by executing the Fifth Amended and Restated Agreement of Limited Partnership of the Partnership (the Fifth Amended and Restated Partnership Agreement) in order to, among other things,
(i) reflect the cancellation of the IDRs, and (ii) eliminate certain legacy provisions that no longer apply, including provisions related to the IDRs and the initial formation and capitalization of Teekay LNG.
The foregoing description of the Exchange Transaction, the Fifth Amended and Restated Partnership Agreement and the Exchange Agreement is not complete and is
qualified in its entirety by reference to the full text of the Fifth Amended and Restated Partnership Agreement and the Exchange Agreement, each of which is filed as Exhibits 4.1 and 10.1 to this Report on Form
6-K, respectively, and incorporated herein by reference.
Additionally, attached as Exhibit 99.1 is a copy of an
announcement of Teekay LNG, dated May 11, 2020, regarding the Exchange Transaction.
Item 6 Exhibits
The following exhibits are filed as part of this Report: