SOURCE: Dynagas LNG Partners LP

November 05, 2013 10:58 ET

Dynagas LNG Partners LP Announces Initial Public Offering of 12,500,000 Common Units

ATHENS, GREECE--(Marketwired - Nov 5, 2013) -  Dynagas LNG Partners LP ("Dynagas Partners") announced today that it has commenced its initial public offering of 12,500,000 common units representing limited partner interests, including 8,250,000 common units to be sold by Dynagas Partners and 4,250,000 common units to be sold by Dynagas Holding Ltd., its sponsor ("Dynagas Holding"). Dynagas Holding will grant the underwriters a 30-day option to purchase up to an additional 1,875,000 common units. The estimated price range for this offering is $19.00 to $21.00 per common unit.

This offering is being made pursuant to a registration statement on Form F-1 (File No.333-191653), including a prospectus, previously filed with the U.S. Securities and Exchange Commission (the "SEC"). Dynagas Partners has applied for listing of the common units on the NASDAQ Global Select Market under the symbol "DLNG."

Credit Suisse, BofA Merrill Lynch, Morgan Stanley, Barclays and Deutsche Bank Securities are acting as joint book-running managers for the offering, and ABN AMRO and Crédit Agricole CIB are acting as co-managers for this offering.

This offering will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, when available, may be obtained from the offices of Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, 1B, New York, NY 10010, telephone: 1-800-221-1037 or email: newyork.prospectus@credit-suisse.com; BofA Merrill Lynch, Attention Prospectus Department, 222 Broadway, New York, NY 10038 or email dg.prospectus_requests@baml.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847 or email: barclaysprospectus@broadridge.com; or Deutsche Bank Securities, Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, telephone (800) 503-4611 or email: prospectus.cpdg@db.com.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities issuable pursuant to the registration statement, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Dynagas LNG Partners LP

Dynagas Partners was formed on May 30, 2013 by Dynagas Holding to own, operate and acquire liquefied natural gas (LNG) carriers initially employed on multi-year charters. The initial fleet of Dynagas Partners consists of three LNG carriers, each of which has a carrying capacity of approximately 150,000 cbm and is employed on a multi-year charter.

Forward-Looking Statement

This press release contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only Dynagas Partners' belief regarding future results, many of which, by their nature are inherently uncertain and outside of Dynagas Partners' control. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in our registration statement on Form F-1 (File No.333-191653) under the heading "Risk Factors."

Contact Information

  • Contact Information:

    Dynagas LNG Partners LP
    97 Poseidonos Avenue & 2 Foivis Street
    Glyfada, 16674
    Greece


    Attention: Michael Gregos
    Telephone: (011) 30 210 8917260
    Email: lngcoordination@dynagas.com