Teekay LNG considers Norwegian bond issuance
Teekay LNG Partners intends to issue a minimum of NOK 700 million in new senior unsecured bonds in the Norwegian bond market.
The bonds, which mature in May 2020, at current conversion rates have an aggregate principal amount equivalent to approximately US$90 million. The net proceeds from the bonds will be used for general purposes, including funding of newbuilding installments. 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 US to qualified institutional investors (or QIBs).
Danske Bank, DNB Markets, Nordea Markets and Swedbank Norway have been appointed as joint lead managers of the contemplated bond issuance.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/05052015/teekay-to-issue-bonds-in-norway-685/
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