Teekay LNG Partners intends to issue new s[ds_preview]enior unsecured bonds in the Norwegian bond market. 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.
Teekay contemplates the issuance through an add-on to its existing Norwegian bonds due in October 2021 (TKLNG04 – ISIN: NO0010777089).
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 (the Securities Act) concurrently with bonds offered outside of the United States pursuant to Regulation S of the Securities Act.
Danske Bank Markets, DNB Markets, Nordea and Swedbank Norway have been appointed as Joint Lead Managers of the contemplated bond issuance.
Teekay LNG Partners is an independent owner and operator of LNG carriers, providing LNG, LPG and crude oil marine transportation services primarily under long-term, fixed-rate charter contracts through its interests in 50 LNG carriers (including 19 newbuildings), 29 LPG/Multigas carriers (including four newbuildings) and six conventional tankers. The Partnership‘s interests in these vessels range from 20 to 100 %.
