Teekay LNG Partners Mandates Banks to Arrange Fixed Income Investor Call
Teekay LNG Partners L.P. (NYSE:TGP) has announced the arrangement of a Fixed Income Investor Call scheduled for August 19, 2020, led by DNB Markets and Nordea as Global Coordinators. The company plans a NOK denominated senior unsecured bond issue with a five-year tenor, contingent on market conditions. Some bonds will be available to qualified institutional investors in the U.S. under Rule 144A, alongside Regulation S offerings outside the U.S. This press release serves as a notice and does not constitute an offer to sell or buy bonds, which have not been registered under U.S. securities laws.
- Teekay LNG is expanding its funding options with a NOK denominated senior unsecured bond issue.
- The bond offering could enhance liquidity and financial flexibility for future projects.
- The bond issuance is subject to market conditions, which may introduce uncertainty.
- Bonds have not been registered under U.S. securities laws, limiting their potential market.
HAMILTON, Bermuda, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) mandates DNB Markets and Nordea as Global Coordinators and Joint Bookrunners; Credit Agricole Corporate and Investment Bank, Danske Bank, SEB, Swedbank and Arctic Securities as Joint Bookrunners to arrange a Fixed Income Investor Call on August 19, 2020. Subject to inter alia market conditions, a NOK denominated senior unsecured bond issue with a five-year tenor may follow.
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.
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 U.S. Securities Act of 1933, as amended (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, and involve risks and uncertainties that could cause the outcome to be materially different. Teekay LNG undertakes no obligation to revise or update any forward looking statements, unless required to do so under applicable securities laws.
About Teekay LNG
Teekay LNG is one of the world’s largest independent owners and operators of LNG carriers, providing LNG and LPG services primarily under long-term, fee-based charter contracts through its interests in 47 LNG carriers, 23 mid-size LPG carriers, and seven multi-gas carriers. Teekay LNG’s ownership interests in these vessels range from 20 to 100 percent. In addition, Teekay LNG owns a 30 percent interest in a regasification terminal. Teekay LNG is a publicly-traded master limited partnership formed by Teekay Corporation (NYSE: TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.
Teekay LNG’s common units and preferred units trade on the New York Stock Exchange under the symbols “TGP”, “TGP PR A” and “TGP PR B”, respectively.
For Investor Relations
enquiries contact:
Ryan Hamilton
Tel: +1 (604) 609-2963
Website: www.teekay.com
FAQ
What is the purpose of Teekay LNG's Fixed Income Investor Call on August 19, 2020?
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