April 17, 2012
HAMILTON, BERMUDA–(Marketwire – April 17, 2012) – Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) announces that it has issued NOK 700 million in senior unsecured bonds maturing in May 2017 in the Norwegian bond market. The aggregate principal amount of the bonds is equivalent to approximately 120 million U.S. dollars (USD) and all interest and principal payments will be swapped into USD. The proceeds of the bonds, which will be available to the Partnership upon settlement in early-May 2012, are expected to be used for general partnership purposes. Teekay LNG will apply for listing of the bonds on the Oslo Stock Exchange.
Pareto Securities acted as Lead Manager, and Swedbank First Securities as Co-Manager of the bond issuance.
This press release is neither an offer to sell nor a solicitation of an offer to buy any of the bonds or any other security of Teekay LNG. The bonds have not been and will not be registered under the Securities Act or any state securities laws. Unless so registered, the bonds may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements, which include statements involving the contemplated bond offering, involve risks and uncertainties that could cause the outcome to be materially different. These risks and uncertainties include, but are not limited to, the possibility that the bond issuance may not be completed in the aggregate principal amount contemplated, or at all, and those discussed in Teekay LNG’s public filings with the U.S. Securities and Exchange Commission. Teekay LNG undertakes no obligation to revise or update any forward looking statements, unless required to do so under the securities laws.
About Teekay LNG Partners L.P.
Teekay LNG Partners is the world’s third largest independent owner and operator of LNG vessels, providing LNG, LPG and crude oil marine transportation services primarily under long-term, fixed-rate charter contracts with major energy and utility companies through its interests in 27 LNG carriers (including one LNG regasification unit), five LPG/Multigas carriers and 11 conventional tankers. The Partnership’s interests in these vessels range from 33 to 100 percent. Teekay LNG Partners L.P. is a publicly-traded master limited partnership (MLP) formed by Teekay Corporation (NYSE:TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.
Teekay LNG Partners’ common units trade on the New York Stock Exchange under the symbol “TGP”.