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Teekay contemplates Norwegian bond issuance

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LNG Industry,

Teekay LNG Partners LP has announced that it is planning to issue new senior unsecured bonds in the Norwegian bond market through an add-on to its existing Norwegian bonds due in October 2021.

The company claims that it is expected that the net proceeds from the bonds will be used to refinance existing bonds and/or general purposes (this may include funding instalment payments on future newbuilding deliveries).

In the statement, Teekay states that a portion of the bonds may be offered to the US to qualified institutional investors (QIBs) as defined in Rule 144A of the US Securities Act of 1993 concurrently with bonds offered outside of the US pursuant to Regulation S of the Securities Act.

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