Teekay LNG Partners Completes Norwegian Bond Offering


Teekay LNG Partners L.P. announces that it has priced NOK 850 million in new senior unsecured bonds that mature in August 2023 in the Norwegian bond market. The new bond issuance, which was significantly over subscribed, has an aggregate principal amount equivalent to approximately USD 100 million and all payments will be swapped into a U.S. dollar fixed-rate coupon of approximately 7.89%. Teekay LNG expects to close the bond offering on August 29, 2018, subject to customary closing conditions. The net proceeds from the bonds are expected to be used for refinancing of existing bonds and/or general partnership purposes. Teekay LNG will apply for listing of the new bonds on the Oslo Stock Exchange.

DNB Markets and Nordea acted as Global Coordinators and Joint Bookrunners and Danske Bank and Swedbank acted as Joint Bookrunners. Credit Agricole CIB and SEB acted as Co-Managers.

This press release is neither an offer to sell nor a solicitation of an offer to buy any of the bonds or any other security of Teekay LNG. The bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or any state securities laws. Unless so registered, the bonds may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

The statements in this press release that are not historical facts may be forward-looking statements, and involve risks and uncertainties that could cause the outcome to be materially different. Teekay LNG undertakes no obligation to revise or update any forward looking statements, unless required to do so under applicable securities laws.



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