Teekay LNG finalizes bond issue

Bermuda-based Teekay LNG said that it has issued NOK 1,000 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 USD 130 million and all interest and principal payments have been swapped into USD at an all-in fixed interest rate of 5.92%, Teekay LNG said in a statement on Wednesday.

The net proceeds from the bonds are expected to be used for general partnership purposes, including funding of newbuilding installments.

Teekay LNG will apply for listing of the bonds on the Oslo Stock Exchange.

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