Dynagas LNG Prices Offering

Pricing for Dynagas Public Offering Announced

Dynagas LNG Partners said that it has priced its previously announced underwritten public offering of 4,800,000 common units representing limited partner interests at $22.79 per common unit.

As previously reported the offering is expected to close on June 18, 2014 and Dynagas Partners has also granted the underwriters a 30-day option to purchase up to an additional 720,000 common units.

Dynagas Partners intends to use the net proceeds from the public offering to fund a portion of the purchase price of its previously announced acquisition of the ownership interests in the company that owns the 2013 built ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding.

Dynagas Partners intends to fund the balance of the purchase with a new $340 million senior secured revolving credit facility which Dynagas Partners plans to enter following the completion of this offering. The new $340 million senior secured revolving credit facility will also be used to refinance $214.1 million currently outstanding under Dynagas Partners’ existing senior secured revolving credit facility. In the event that the acquisition is not consummated, the net proceeds from this offering will be used for general partnership purposes.

Press Release, June 13, 2014

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