Teekay LNG Partners L.P. (TGP: Quote) announced that it plans to offer 4.60 million common units, which represent limited partner interests, in a public offering.
Teekay LNG said it expects to grant the underwriters a 30-day option to purchase up to an additional 690,000 common units.
Further, the Partnership intends to use the net offering proceeds for general Partnership purposes, which may include funding potential future newbuilding deliveries or vessel acquisitions. Pending the use of the proceeds, the Partnership intends to repay a portion of its outstanding debt under two of its revolving credit facilities.
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by RTT Staff Writer
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