Teekay Eyes Bond Issue

Teekay LNG Partners L.P. intends to issue a minimum of NOK 700 million in new senior unsecured bonds in the Norwegian bond market worth a total of approximately USD 90 million.

The company said it would direct the net proceeds from the bonds for general partnership purposes, including funding of newbuilding installments.

Teekay LNG expects to apply for listing of the bonds, which mature in May 2020, on the Oslo Stock Exchange.

As informed portion of the bonds may be offered in the United States to qualified institutional investors.

Danske Bank, DNB Markets, Nordea Markets and Swedbank Norway have been appointed as Joint Lead Managers of the contemplated bond issuance.

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