Teekay LNG Partners L.P. (NYSE:TGP), announced today that it 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).
TGP 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.
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