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Buy (2.67 out of 4)
28th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, July 10, 5:06 PM
Slide #184. Teekay LNG Partners L.P. — Preferred Stock 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 |
| Preferred Stock 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 an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. Co. focuses on servicing its customers through its fleet of LNG and LPG carriers under medium to long-term, fixed-rate charters. Co. has three reportable segments, its LNG segment, LPG segment and its conventional tanker segment. Co.'s LNG segment consists of LNG carriers which generally operate under long-term, fixed-rate charters to international energy companies. Co.'s LPG segment consists of LPG and multi-gas carriers which generally operate under voyage charters or time-charters. Preferreds: TGP.PRA, TGP.PRB
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