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Teekay LNG partners completes Norwegian bond offering

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LNG Industry,


Teekay LNG Partners L.P. announces that it has priced NOK 1000 million in new senior unsecured bonds that mature in November 2026 in the Norwegian bond market. The new bond issuance, which was significantly oversubscribed, has an aggregate principal amount equivalent to approximately US$116 million and all payments will be swapped into a US dollar fixed-rate coupon of approximately 6.37%. Teekay LNG expects to close the bond offering on 18 November 2021, subject to customary closing conditions. The net proceeds from the bonds are expected to be used for general partnership purposes. Teekay LNG will apply for listing of the new bonds on the Oslo Stock Exchange.

DNB Markets, Nordea, Danske Bank, SEB, Swedbank and Credit Agricole Corporate and Investment Bank acted as Joint Lead Managers.

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 US Securities Act of 1933, as amended (the Securities Act), or any state securities laws. Unless so registered, the bonds may not be offered or sold in the US 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, and involve risks and uncertainties that could cause the outcome to be materially different. Teekay LNG undertakes no obligation to revise or update any forward looking statements, unless required to do so under applicable securities laws.

About Teekay LNG

Teekay LNG is one of the world’s largest independent owners and operators of LNG carriers, providing LNG and LPG services primarily under long-term, fee-based charter contracts through its interests in 47 LNG carriers, 21 mid-size LPG carriers, and seven multi-gas carriers. Teekay LNG’s ownership interests in these vessels range from 20 - 100%. In addition, Teekay LNG owns a 30% interest in a regasification terminal. Teekay LNG is a publicly-traded master limited partnership formed by Teekay Corporation as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/12112021/teekay-lng-partners-completes-norwegian-bond-offering/

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