Teekay LNG Partners closes $900 mln financing deals

Teekay LNG Partners closes $900 mln financing deals
Image courtesy of Teekay

Teekay LNG Partners has completed two financing arrangement totaling US$905 million for its projects delivering through 2019. 

The company has signed a $685 million sale-leaseback transaction with ICBC Leasing for four of the Partnership’s MEGI LNG carrier newbuildings delivering in 2017 and 2018.

This includes the third vessel in the series, the 173,000-cbm Torben Spirit, that has a scheduled delivery of February 2017.

Teekay LNG Partners also secured a $220 million long-term debt facility relating to the partnership’s 30 percent interest in the Bahrain regasification facility.

Earlier, Teekay LNG Partners completed its previously announced bond issue in the Norwegian bond market, bringing in $35 million in new senior unsecured bonds through an add-on to its existing Norwegian bonds due in October 2021.

In addition to the latest arrangements, the company earlier refinanced its $244 million long-term debt facility secured by four 40 percent-owned LNG carriers, Al Huwaila, Al Kharsaah, Al Shamal, and Al Khuwair, in the partnership’s RasGas III joint venture with Qatar Gas Transport Company (Nakilat) with a new $288 million long-term debt facility.

 

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