Teekay to Raise USD 40 Million for LNG Newbuildings (Bermuda)

Teekay LNG Partners Announces Private Placement

Teekay GP, the general partner of Teekay LNG Partners, said that it has issued approximately 0.93 million common units in a private placement to an institutional investor for proceeds of approximately $40 million.

The Partnership intends to use the proceeds from the sale of common units to partially fund its previously announced order of two fuel-efficient liquefied natural gas (LNG) carrier newbuildings ordered in July 2013, scheduled for delivery in 2016, and for general partnership purposes.


LNG World News Staff, July 31, 2013