Once the offering is complete, the MLP will have a 50% interest in the FSRUs GDF Suez Neptune and GDF Suez Cape Ann, as well as a 100% interest in PGN FSRU Lampung which is expected to start operations in July 2014.
The partnership will look to buy assets with long term charters from Höegh LNG, including FSRUs, LNG carriers and other LNG related infrastructure. Höegh LNG will be responsible for managing the MLP's fleet, which initially be dependent on revenues from GDF Suez and PGN.
Sveinung Stohle, president and ceo of Höegh LNG, will serve as director and chairman of the board at Höegh LNG Partners, backed by a board of seven including ceo and cfo Richard Tyrrell.
The documents filed today follow preliminary documents submitted in April this year. Citi, BofA Merrill Lynch, Morgan Stanley, Barclays, and UBS Investment Bank are joint bookrunners on the deal.
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