Teekay LNG Contemplates Norwegian Bond Issuance
August 26 2013 - 5:05AM
HAMILTON, BERMUDA--(Marketwired - August 26, 2013)
- Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:
TGP) announces that it intends to issue a minimum of 700 million
NOK in new senior unsecured bonds in the Norwegian bond market that
mature in September 2018 which, at current conversion rates, have
an aggregate principal amount equivalent to approximately USD 115
million. The proceeds of the bonds are expected to be used for
general partnership purposes. Teekay LNG expects to apply for
listing of the bond on the Oslo Stock Exchange.
A portion of the bonds may be offered in the
United States to qualified institutional investors (or QIBs) as
defined in Rule 144A of the U.S. Securities Act of 1933 (the
Securities Act) concurrently with bonds offered outside of the
United States pursuant to Regulation S of the Securities Act.
DNB Markets, Nordea Markets and Swedbank First
Securities have been appointed as Joint Lead Managers of the
contemplated bond issuance.
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 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. These
forward-looking statements involve risks and uncertainties that
could cause the outcome to be materially different. These risks and
uncertainties include, but are not limited to, those discussed in
Teekay LNG's public filings with the U.S. Securities and Exchange
Commission. Teekay LNG undertakes no obligation to revise or update
any forward looking statements, unless required to do so under the
securities laws.
About Teekay LNG Partners L.P.
Teekay LNG Partners is the world's second 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 32 LNG carriers
(including one LNG regasification unit), 31 LPG/Multigas carriers
and 11 conventional tankers. The Partnership's interests in these
vessels range 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".
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
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