Teekay LNG Finalizes Norwegian Bond Issue

Teekay LNG Partners announced that it has issued NOK 900 million in senior unsecured bonds, maturing in September 2018, in the Norwegian bond market.

The aggregate principal amount of the bonds is equivalent to approximately 150 million U.S. dollars (USD) and all interest and principal payments have been swapped into USD at an all-in fixed interest rate of 6.43%.

The proceeds of the bonds are expected to be used for general partnership purposes. Teekay LNG will apply for listing of the bonds on the Oslo Stock Exchange.

DNB Markets, Nordea Markets and Swedbank First Securities acted as Joint Lead Managers of the bond issuance.

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LNG World News Staff, September 4, 2013; Image: Teekay