Teekay LNG Finalizes Norwegian Bond Issuance

Teekay LNG Partners announced that it has issued NOK 700 million in senior unsecured bonds maturing in May 2017 in the Norwegian bond market.

The aggregate principal amount of the bonds is equivalent to approximately 120 million U.S. dollars (USD) and all interest and principal payments will be swapped into USD.

The proceeds of the bonds, which will be available to the Partnership upon settlement in early-May 2012, are expected to be used for general partnership purposes.

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

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LNG World News Staff, April 18, 2012