Teekay’s $40M Equity Private Placement
Bermuda-based Teekay GP LLC., the general partner of Teekay LNG Partners L.P. has issued approximately 0.93 million common units in a private placement to an institutional investor for proceeds of approximately $40 million [excluding its general partner's proportionate capital contribution].
The Partnership intends to use the proceeds from the sale of common units to partially fund its previously announced order of two fuel-efficient liquefied natural gas [LNG] carrier newbuildings ordered in July 2013, scheduled for delivery in 2016, and for general partnership purposes.
