Deal sells about 930,000 common units to fund partnership purposes
By Devika Patel
Knoxville, Tenn., July 31 - Teekay LNG Partners LP said it raised about $40 million in a private placement of common units.
The company sold about 930,000 common units.
Proceeds will be used to fund the company's order of two fuel-efficient liquefied natural gas carrier newbuildings and for general partnership purposes.
Based in Nassau, the Bahamas, Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services.
| Issuer: | Teekay LNG Partners LP
|
| Issue: | Common units
|
| Amount: | $40 million (approximate)
|
| Units: | 930,000 (approximate)
|
| Warrants: | No
|
| Settlement date: | July 31
|
| Stock symbol: | NYSE: TGP
|
| Stock price: | $41.90 at close July 30
|
| Market capitalization: | $2.89 billion
|
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