Teekay LNG Partners to Issue Bonds on Norwegian Market

Teekay LNG Partners L.P. announced that it intends to issue a minimum of 700 million NOK in new senior unsecured bonds in the Norwegian bond market that mature in September 2018 which, at current conversion rates, have an aggregate principal amount equivalent to approximately USD 115 million. The proceeds of the bonds are expected to be used for general partnership purposes.

Teekay LNG expects to apply for listing of the bond on the Oslo Stock Exchange.

A portion of the bonds may be offered in the United States to qualified institutional investors (or QIBs) as defined in Rule 144A of the U.S. Securities Act of 1933 concurrently with bonds offered outside of the United States pursuant to Regulation S of the Securities Act.

DNB Markets, Nordea Markets and Swedbank First Securities have been appointed as Joint Lead Managers of the contemplated bond issuance.

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LNG World News Staff, August 26, 2013