Dynagas LNG Partners LP Announces Pricing of $250.0 Million of Senior Unsecured Notes Due 2019

ATHENS, GREECE--(Marketwired - Sep 8, 2014) - Dynagas LNG Partners LP ("Dynagas Partners" or the "Partnership") (NASDAQ: DLNG) announced today that it has priced its previously announced $250.0 million public offering of senior unsecured notes due 2019 (the "Notes"). Dynagas Finance Inc., (together with the Partnership, the "Issuers") a wholly-owned subsidiary of the Partnership, is acting as co-issuer of the Notes. The Notes will mature on October 30, 2019. The Notes will bear interest at a rate of 6.25% per year, payable quarterly on each January 30, April 30, July 30 and October 30, commencing on October 30, 2014. The Issuers have granted the underwriters of the offering a 30-day option to purchase up to an additional $15.0 million of the Notes on the same terms and conditions. The offering is expected to close on September 15, 2014.

The Partnership intends to use the net proceeds from the offering to finance the majority of the purchase price of one of three recently built vessels that the Partnership has the option to acquire from Dynagas Holding Ltd., the Partnership's sponsor, together with its respective charter contract. The Partnership expects to fund the balance of the purchase price of the vessel with cash on hand.

The Notes will be issued in minimum denominations of $1,000.00 and integral multiples of $1,000.00 in excess thereof. 

Sterne, Agee & Leach, Inc. and DNB Markets, Inc. are acting as joint book-running managers and structuring agents for the offering. 

The offering may be made only by means of a prospectus. When available, copies of the prospectus related to the offering may be obtained from Sterne, Agee & Leach, Inc., Prospectus Department, 277 Park Avenue, 26th Floor, New York, New York 10172, Attn: Syndicate, email: syndicate@sterneagee.com, telephone: (205) 439-6483 or DNB Markets, Inc., Prospectus Department, 200 Park Avenue, 31st Floor, New York, New York, 10166, telephone: (212) 551-9814.

A registration statement relating to the Notes has been filed with the SEC and is effective. The registration statement is available on the Security and Exchange Commission's website at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.