TEEKAY LNG PARTNERS COMPLETES NORWEGIAN BOND OFFERING

TEEKAY LNG PARTNERS COMPLETES NORWEGIAN BOND OFFERING

10 Nov 2021 22:13 CET

Hamilton, Bermuda, November 10, 2021 - Teekay LNG Partners L.P. (Teekay LNG or
the Partnership) (NYSE:TGP) announces that it has priced NOK 1,000 million in
new senior unsecured bonds that mature in November 2026 in the Norwegian bond
market. The new bond issuance, which was significantly oversubscribed, has an
aggregate principal amount equivalent to approximately USD 116 million and all
payments will be swapped into a U.S. dollar fixed-rate coupon of approximately
6.37%. Teekay LNG expects to close the bond offering on November 18, 2021,
subject to customary closing conditions. The net proceeds from the bonds are
expected to be used for general partnership purposes. Teekay LNG will apply for
listing of the new bonds on the Oslo Stock Exchange.

DNB Markets, Nordea, Danske Bank, SEB, Swedbank and Credit Agricole Corporate
and Investment Bank acted as Joint Lead Managers.

This press release is neither an offer to sell nor a solicitation of an offer to
buy any of the bonds or any other security of Teekay LNG. The bonds have not
been and will not be registered under the U.S. Securities Act of 1933, as
amended (the Securities Act), or any state securities laws. Unless so
registered, the bonds may not be offered or sold in the United States except
pursuant to an exemption from the registration requirements of the Securities
Act and applicable state securities laws.

The statements in this press release that are not historical facts may be
forward-looking statements, and involve risks and uncertainties that could cause
the outcome to be materially different. Teekay LNG undertakes no obligation to
revise or update any forward looking statements, unless required to do so under
applicable securities laws.

About Teekay LNG
Teekay LNG is one of the world's largest independent owners and operators of LNG
carriers, providing LNG and LPG services primarily under long-term, fee-based
charter contracts through its interests in 47 LNG carriers, 21 mid-size LPG
carriers, and seven multi-gas carriers. Teekay LNG's ownership interests in
these vessels range from 20 to 100 percent. In addition, Teekay LNG owns a 30
percent interest in a regasification terminal. Teekay LNG is a publicly-traded
master limited partnership formed by Teekay Corporation (NYSE: TK) as part of
its strategy to expand its operations in the LNG and LPG shipping sectors.

Teekay LNG's common units and preferred units trade on the New York Stock
Exchange under the symbols "TGP", "TGP PR A" and "TGP PR B", respectively.

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel: +1 (604) 609-2963
Website: www.teekay.com

More information:
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Source

Teekay LNG Partners L.P.

Provider

Oslo Børs Newspoint