Teekay LNG Partners L.P. Announces $40 Million Equity Private Placement
July 30 2013 - 10:07PM
Marketwired
Teekay GP LLC., the general partner of Teekay LNG Partners L.P.
(Teekay LNG or the Partnership) (NYSE:TGP), announced today that it
has issued approximately 0.93 million common units in a private
placement to an institutional investor for proceeds of
approximately $40 million (excluding its general partner's
proportionate capital contribution). The Partnership intends to use
the proceeds from the sale of common units to partially fund its
previously announced order of two fuel-efficient liquefied natural
gas (LNG) carrier newbuildings ordered in July 2013, scheduled for
delivery in 2016, and for general partnership purposes.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The securities offered
have not been registered under the U.S. Securities Act of 1933, as
amended, or any other securities laws and may not be offered or
sold in the United States absent registration or an applicable
exemption from registration requirements.
About Teekay LNG Partners L.P.
Teekay LNG Partners L.P. is the world's third largest
independent owner and operator of LNG vessels, providing LNG, LPG
and crude oil marine transportation services primarily under
long-term, fixed-rate charter contracts with major energy and
utility companies through its interests in 31 LNG carriers
(including one LNG regasification unit and four newbuildings), 29
LPG/Multigas carriers (including five chartered-in LPG carriers and
eight newbuildings) and 11 conventional tankers. The Partnership's
interests in these vessels ranges from 33 to 100 percent. Teekay
LNG Partners L.P. is a publicly-traded master limited partnership
(MLP) 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 trade on the New York Stock
Exchange under the symbol "TGP".
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements (as defined in
Section 21E of the Securities Exchange Act of 1934, as amended)
which reflect management's current views with respect to certain
future events and performance, including statements regarding: the
timing of delivery of the two fuel-efficient LNG carrier
newbuildings. The following factors are among those that could
cause actual results to differ materially from the forward-looking
statements, which involve risks and uncertainties, and that should
be considered in evaluating any such statement: potential delay in
newbuilding deliveries; and other factors discussed in Teekay LNG's
filings from time to time with the SEC, including its Report on
Form 20-F for the fiscal year ended December 31, 2012. The
Partnership expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the
Partnership's expectations with respect thereto or any change in
events, conditions or circumstances on which any such statement is
based.
Contacts: Teekay LNG Partners L.P. Kent Alekson Investor
Relations Enquiries + 1 (604) 609-6442 www.teekaylng.com
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