Teekay LNG completes bond issuance

Teekay LNG Partners L.P. has completed the previously announced issuance of NOK 1000 million in senior unsecured bonds, maturing in May 2020, in the Norwegian bond market.

The aggregate principal amount of the bonds is equivalent to approximately US$130 million and all interest and principal payments have been swapped into US dollar at an all-in fixed interest rate of 5.92%.

The net proceeds from the bonds will be used for general purposes, including funding of newbuilding installments. Teekay LNG will apply for listing of the bonds on the Oslo Stock Exchange.

Danske Bank, DNB Markets, Nordea Markets and Swedbank Norway acted as joint lead managers of the bond issuance.

Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/07052015/teekay-completes-norwegian-bond-placement-708/