Teekay Prices 4M Common Unit Public Offering
Stock quotes in this article:
TGP
The Associated Press
Teekay LNG Partners LP, which provides marine transportation services to the energy industry, said Wednesday it priced a follow-on public offering of 4 million common units at $17.60 per unit. The company, which is based in Bermuda, granted the underwriters a 30-day option to purchase up to an additional 600,000 units to cover over-allotments, if any. Teekay said it plans to use the proceeds to pay off debt, specifically outstanding amounts on one of its revolving credit facilities. Shares of the company fell 64 cents, or 3.7 percent, to $16.86 in morning trading.- Loading Comments...
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