Teekay LNG Partners L.P. announced that it has priced its follow-on public offering of 4,600,000 common units, which represent limited partner interests, at $38.43 per unit.
Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 690,000 common units.
The Partnership intends to use the net offering proceeds for general Partnership purposes, which may include funding potential future newbuilding deliveries or vessel acquisitions.
Pending the use of the proceeds, the Partnership intends to repay a portion of its outstanding debt under two of its revolving credit facilities.
[mappress] LNG World News Staff, September 05, 2012