Teekay LNG announced that it intends to issue new five-year senior unsecured bonds in the Norwegian bond market.
The net proceeds from the bonds are expected to be used for refinancing NOK bonds maturing in May 2017 and general partnership purposes, including funding of newbuilding installments. Teekay LNG expects to apply for listing of the bonds on the Oslo Stock Exchange.
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.
Danske Bank Markets, DNB Markets, Nordea Markets and Swedbank Norway have been appointed as Joint Lead Managers of the contemplated bond issuance.