Teekay LNG Partners Completes Norwegian Bond Offering

HAMILTON, Bermuda, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) announces that it has priced NOK 1,000 million in new senior unsecured bonds that mature in November 2026 in the Norwegian bond market. The new bond issuance, which was significantly oversubscribed, has an aggregate principal amount equivalent to approximately USD 116 million and all payments will be swapped into a U.S. dollar fixed-rate coupon of approximately 6.37%. Teekay LNG expects to close the bond offering on November 18, 2021, subject to customary closing conditions. The net proceeds from the bonds are expected to be used for general partnership purposes. Teekay LNG will apply for listing of the new bonds on the Oslo Stock Exchange.