Teekay LNG Partners bags US$110 mln through Norwegian bond issuance

Teekay LNG Partners bags US$110 mln through Norwegian bond issuance

Teekay LNG Partners, the partnership formed by Teekay Corporation, issued NOK 900 million in new senior unsecured bonds that mature in October 2021 in the Norwegian bond market.

The partnership said in its statement that the new bond issuance, has an aggregate principal amount equivalent to approximately US$110 million and all payments will be swapped into a US dollar fixed-rate coupon of approximately 7.75 percent.

In connection with the new bond issuance, the partnership agreed to repurchase approximately NOK 275 million (US$33.7 million) of Teekay LNG bond issue maturing May 3, 2017, at a price of 101.50 of the principal amount of the repurchased bonds.

The net proceeds from the bond issuance will be used for refinancing of the partnership’s 2017 NOK bonds and general partnership purposes that include the funding of newbuild installments.

According to the statement, Teekay LNG intends to apply for listing of new bonds on the Oslo stock exchange.

Share this article

Follow LNG World News


<< Oct 2019 >>
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >