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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Thu., Sep. 29, 2:36 PM

Slide #2. Teekay LNG Partners L.P. Secondary Offering

Company: Teekay LNG Partners L.P. (NYSE:TGP)
Date announced: 9/28/2016
Shares Offered: 5,000,000
Date of Pricing: 9/28/2016
Price Per Share: $25.00
Secondary Offering Details: Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) announced today that it plans to offer Series A Cumulative Redeemable Perpetual Preferred Units (Series A Preferred Units), representing limited partner interests, in a public offering. Teekay LNG expects to grant the underwriters a 30-day option to purchase additional Series A Preferred Units. The Partnership expects to use the net proceeds from the public offering for general partnership purposes, which may include debt repayments or funding installment payments on future newbuilding deliveries.

Teekay LNG Partners is a holding company. Co. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. Co.'s fleet consists of 29 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers, and two Exmar LNG Carriers that are all accounted for under the equity method), 22 LPG carriers (including the 16 Exmar LPG Carriers that are accounted for under the equity method), seven Suezmax-class crude oil tankers, and one Handymax product tanker, all of which are double-hulled. LPG shipping transports liquid petroleum gases, petrochemical gases and ammonia.
Open the TGP Page at The Online Investor »

Company Name:  Teekay LNG Partners LP
Sector:  Oil & Gas Equipment & Services
Number of ETFs Holding TGP:  2
Total Market Value Held by ETFs:  $25.54M
Total Market Capitalization:  $1.07B
% of Market Cap. Held by ETFs:  2.38%

Open the TGP Page at The Online Investor (in a new window) »

September 29, 2016    2:36 PM Eastern
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Buy (2.80 out of 4)
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