Hoegh LNG Partners Prices IPO

By Joseph R. Fonseca
Thursday, August 07, 2014


Höegh LNG Partners LP  a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd., announced today the pricing of its initial public offering of 9,600,000 common units representing limited partner interests in the Partnership at $20.00 per unit. The Partnership has also granted the underwriters a 30-day option to purchase up to 1,440,000 additional common units.

The common units being offered represent a 36.5% limited partner interest in the Partnership, or a 42.0% limited partner interest if the underwriters exercise in full their option to purchase additional common units.  Höegh LNG Holdings Ltd. will own the Partnership's general partner and the remaining limited partner interest.

The common units are expected to begin trading on the New York Stock Exchange on August 7, 2014 under the symbol "HMLP".  The offering is expected to close on or about August 12, 2014, subject to customary closing conditions.

The Partnership was formed to own, operate and acquire floating storage and regasification units, liquefied natural gas carriers and other LNG infrastructure assets under long-term charters. The Partnership's initial fleet will consist of interests in the following vessels: a 50% interest in the GDF Suez Neptune, a 50% interest in the GDF Suez Cape Ann and a 100% economic interest in the PGN FSRU Lampung.

Citigroup, BofA Merrill Lynch, Morgan Stanley, Barclays and UBS Investment Bank are acting as the joint book-running managers for the offering.  DNB Markets, Credit Agricole CIB and RS Platou Markets AS are acting as co-managers.  The offering is being made only by means of a prospectus.

When available, copies of the prospectus, which meets the requirements of Section 10A under the Securities Act of 1933, may be obtained from:Citigroup Global Markets Inc.

Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Port of Piraeus Privatisation Delayed

The Greek government plans to delay the privatization process for its largest Port, Piraeus, by a few weeks due to delays caused by the September 20 election to

Rolls-Royce to Cut More Staff of Marine Unit

Britain's Rolls-Royce said it would cut an additional 400 staff from its marine business by the end of next year, its latest move to make the unit more efficient

Wärtsilä Debuts Package for hydropower & industrial plant

Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals,


NMEA Award for Simrad HALO Pulse Compression Radar

Simrad HALO Pulse Compression Radar has been awarded the Technology Award at the 2015 National Marine Electronics Association (NMEA) Conference and Expo in Baltimore, Md.

Two RAscal 1500 Tugs Delivered

Sanmar Shipyard of Turkey has recently completed two RAscal 1500 tugs for Jordanian owners. The tugs are now delivering marine services to the FSRU berthing

HMAS Melbourne Intercepts 427kg Heroin

HMAS Melbourne’s crew has seized 427 kilograms of heroin hidden in a fishing dhow carrying the illegal drugs across the Indian Ocean. The intercept occurred

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2236 sec (4 req/sec)