Teekay LNG to price series A cumulative redeemable preferred units

By Stephanie N. Rotondo

Seattle, Sept. 28 – Teekay LNG Partners LP is offering series A cumulative redeemable perpetual preferred units, according to a prospectus filed with the Securities and Exchange Commission on Wednesday.

Morgan Stanley & Co. LLC, UBS Securities LLC and Stifel Nicolaus & Co. Inc. are the joint bookrunners.

Distributions will be made on the 15th day of January, April, July and October, beginning Jan. 15.

The units become redeemable in 2021 at par plus accrued distributions.

The units will be listed on the New York Stock Exchange under the ticker symbol “TGPPA.”

Proceeds will be used for general partnership purposes, including debt repayments or funding installment payments on future newbuilding deliveries.

Teekay is a Hamilton, Bermuda-based provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.