Speaking of Yield – Teekay LNG’s Investors Pick Up Some MoreSpeaking of Yield – Teekay LNG’s Investors Pick Up Some More

Teekay LNG Partners announced today that it had reached an agreement to acquire a 50% interest in two LNG carriers owned by Exmar for an equity purchase price of approximately $70 million, which includes approximately $7 million of working capital and other cash assets plus the assumption of $100 million in pro rata debt secured by the vessels. Exmar will retain its original 50% and continue to manage and operate the vessels. The consideration for the transaction will consist of $35 million in cash, which will be financed by drawing down on one of the partnership’s existing revolvers and the issuance of approximately 1,050,000 partnership units to Exmar ($34.5 million based upon yesterday’s closing price of $32.87).

This is only an excerpt of Speaking of Yield – Teekay LNG’s Investors Pick Up Some MoreSpeaking of Yield – Teekay LNG’s Investors Pick Up Some More

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