HubsBaker Botts Represents Underwriters in Offering of Preferred Units of Höegh LNG Partners LP
Release
Deal Description: On September 28, 2017, Höegh LNG Partners LP (NYSE: HMLP) priced a public offering of 4,000,000 8.75% Series A Cumulative Redeemable Preferred Units representing limited partner interests at a price to the public of $25.00 per unit. Distributions will be payable on the Series A Preferred Units at an initial rate of 8.75% per annum of the stated liquidation preference of $25.00. HMLP has granted the underwriters a 30-day option to purchase up to an additional 600,000 Series A Preferred Units. HMLP plans to use the net proceeds from the offering and any exercise of the underwriters’ option to purchase additional Series A Preferred Units to repay approximately $34.4 million outstanding under the 8% seller’s credit note related to HMLP’s acquisition of the floating storage and regasification unit Höegh Gallant and for general partnership purposes, which may include funding additional acquisitions. The offering is expected to close October 5, 2017.
Baker Botts represented the underwriters in the offering. Morgan Stanley, UBS Securities and Stifel are acting as joint book-running managers. In addition, ABN AMRO is acting as a co-manager in connection with the offering.
Baker Botts Lawyers/Office Involved:
Baker Botts represented the underwriters in the offering. Morgan Stanley, UBS Securities and Stifel are acting as joint book-running managers. In addition, ABN AMRO is acting as a co-manager in connection with the offering.
Baker Botts Lawyers/Office Involved:
- Corporate: Josh Davidson (Partner, Houston), A.J. Ericksen (Partner, Houston), John Kaercher (Senior Associate, Austin), Chelsea Gaw (Associate, Houston) and Sunil Jamal (Associate, Houston)
- Tax: Jon Lobb (Partner, Houston) and David Morris (Associate, Houston)
- Environmental: Aileen Hooks (Partner, Austin) and Samia Broadaway (Associate, Austin)
- Regulatory: Gregory Wagner (Partner, Washington, D.C.) and Kyle Henne (Associate, Washington, D.C.)
- Employee Benefits: Mark Bodron (Partner, Houston) and Stephanie Jeane (Associate, Washington, D.C.)
For more information, please see Höegh LNG Partners LP’s news release.
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