Teekay LNG Partners Completes Norwegian Bond Offering
August 22 2018 - 4:01PM
Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP)
announces that it has priced NOK 850 million in new senior
unsecured bonds that mature in August 2023 in the Norwegian bond
market. The new bond issuance, which was significantly over
subscribed, has an aggregate principal amount equivalent to
approximately USD 100 million and all payments will be swapped into
a U.S. dollar fixed-rate coupon of approximately 7.89%. Teekay LNG
expects to close the bond offering on August 29, 2018, subject to
customary closing conditions. The net proceeds from the bonds are
expected to be used for refinancing of existing bonds and/or
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 Danske Bank and Swedbank
acted as Joint Bookrunners. Credit Agricole CIB and SEB acted as
Co-Managers.
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 Partners is one of the world’s
largest independent owners and operators of LNG carriers, providing
LNG, LPG and crude oil marine transportation services primarily
under long-term, fixed-rate charter contracts through its interests
in 49 LNG carriers (including nine newbuildings), 29 LPG/Multigas
carriers and four conventional tankers. The Partnership’s interests
in these vessels range from 20 to 100 percent. In addition,
the Partnership owns a 30 percent interest in a regasification
terminal, which is currently under construction. Teekay LNG
Partners L.P. 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 Partners’ 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) 609-2963Email:
ryan.hamilton@teekay.com Website: www.teekay.com
This information is subject of the disclosure requirements
pursuant to Section 5-12 of the Norwegian Securities Trading
Act
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