Teekay LNG May Issue Bonds to Fund Newbuilds
Teekay LNG Partners intends to issue new five-year senior unsecured bonds in the Norwegian bond market.
Net proceeds from the bonds are expected to be used to fund newbuilding installments, as well as to refinance NOK bonds maturing in May 2017 and general partnership purposes.
"The net proceeds from the bonds are expected to be used for refinancing NOK bonds maturing in May 2017 and general partnership purposes, including funding of newbuilding installments. Teekay LNG expects to apply for listing of the bonds on the Oslo Stock Exchange," says a statement from the company.
Danske Bank Markets, DNB Markets, Nordea Markets and Swedbank Norway have been appointed as Joint Lead Managers of the contemplated bond issuance.
Teekay LNG Partners is one of the world's largest independent owners and operators 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 five newbuildings) and six conventional tankers.