New York-quoted Teekay LNG on Thursday announced plans to offload 2.8 million common units in a public offering backed by Citigroup and Credit Suisse.
In a related statement the operator pointed out that it intends to grant the underwriters of the fundraiser an option to purchase up to an additional 420,000 units.
Teekay LNG said some of the proceeds will be used to fund a $95m payment tied to six LNG carriers under construction at Daewoo Shipbuilding & Marine Engineering in South Korea.
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