Teekay LNG Partners L.P. Announces $40 Million Equity Private Placement
July 30 2013 - 10:51PM
HAMILTON, BERMUDA--(Marketwired - July 30, 2013) -
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.
Contact
Information
Contacts:
Teekay LNG Partners L.P.
Kent Alekson
Investor Relations Enquiries
+ 1 (604) 609-6442
www.teekaylng.com
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Teekay LNG Partners L.P. via Thomson Reuters
ONE
HUG#1720015
Teekay Lng Partners (NYSE:TGP)
Historical Stock Chart
From Nov 2024 to Dec 2024
Teekay Lng Partners (NYSE:TGP)
Historical Stock Chart
From Dec 2023 to Dec 2024