HAMILTON, BERMUDA--(Marketwired - Oct. 18, 2016) - Teekay LNG Partners L.P. (Teekay LNG or the
Partnership) (NYSE:TGP) announces that it intends to issue new five-year senior unsecured bonds in the Norwegian bond
market. The net proceeds from the bonds are expected to be used for refinancing NOK bonds maturing in May 2017 and general
partnership purposes, including funding of newbuilding installments. Teekay LNG expects to apply for listing of the bonds on the
Oslo Stock Exchange.
A portion of the bonds may be offered in the United States to qualified institutional investors (or QIBs) as defined
in Rule 144A of the U.S. Securities Act of 1933 (the Securities Act) concurrently with bonds offered outside of the
United States pursuant to Regulation S of the Securities Act.
Danske Bank Markets, DNB Markets, Nordea Markets and Swedbank Norway have been appointed as Joint Lead Managers of the
contemplated bond issuance.
This press release is neither an offer to sell nor a solicitation of an offer to buy any of the bonds or any other security of
Teekay LNG. The bonds have not been and will not be registered under the Securities Act or any state securities
laws. Unless so registered, the bonds may not be offered or sold in the United States except pursuant to an exemption from
the registration requirements of the Securities Act and applicable state securities laws.
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause the outcome to be materially different. These risks and uncertainties
include, but are not limited to, those discussed in Teekay LNG's public filings with the U.S. Securities and Exchange Commission.
Teekay LNG undertakes no obligation to revise or update any forward looking statements, unless required to do so under the
securities laws.
About Teekay LNG
Teekay LNG Partners is one of the world's largest independent owners and operators of LNG carriers, providing LNG, LPG and
crude oil marine transportation services primarily under long-term, fixed-rate charter contracts through its interests in 50 LNG
carriers (including 19 newbuildings), 29 LPG/Multigas carriers (including five newbuildings) and six conventional tankers. The
Partnership's interests in these vessels range from 20 to 100 percent. Teekay LNG Partners L.P. is a publicly-traded master
limited partnership (MLP) formed by Teekay Corporation (NYSE:TK) as part of its strategy to expand its operations in the
LNG and LPG shipping sectors.
Teekay LNG Partners' common units trade on the New York Stock Exchange under the symbol "TGP".