Teekay LNG Partners files for 3M-unit public offering

|About: Teekay LNG Partners L.P. (TGP)|By:, SA News Editor

Teekay LNG Partners (TGP) -4% AH after announcing plans for a public offering of 3M common units.

TGP intends to use the net proceeds to partially fund its acquisition of a second LNG carrier newbuilding from Awilco LNG and for general partnership purposes, which may include funding installment payments on future newbuilding deliveries and future vessel acquisitions.