Teekay LNG mulls bond issue

Teekay LNG Partners, one of the world’s largest owners of LNG carriers, is looking at the possibility of a bond issue in the Norwegian bond market.

Teekay LNG Partners said in a statement on Monday it intends to issue new senior unsecured bonds through an add-on to its existing Norwegian bonds due in October 2021.

The net proceeds from the bonds are expected to be used for refinancing of existing bonds and/or general partnership purposes, which may include funding installment payments on future newbuilding deliveries.

A portion of the bonds could be offered in the United States to qualified institutional investors, Teekay said.

Danske Bank Markets, DNB Markets, Nordea and Swedbank Norway have been appointed as joint lead managers of the contemplated bond issuance.