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Teekay LNG Partners plans stock issueTeekay LNG Partners plans stock issue

NYSE-listed Teekay LNG Partners plans to issue 3m new units in part to help fund the acquisition of an LNG carrier from Awlico.

Marcus Hand, Editor

October 2, 2013

1 Min Read
Kalyakan - stock.adobe.com

The company said it would issue 3m units in public offering. Based on a currently traded price of $44.27 per unit the offering could raise $132.8m.

Teekay LNG said it expected to use the funds raised to partially finance the acquisition of a second LNG carrier from Awilco and for general partnership purposes, which may include funding installment payments on future newbuilding deliveries and future vessel acquisitions. In the interim proceeds will be used to repay a portion of debt on two outstanding revolving credit facilities.

Joint book running managers for this offering are Citigroup, BofA Merrill Lynch, Credit Suisse, UBS Investment Bank, RBC Capital Markets, Raymond James and Wells Fargo Securities.

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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