Höegh LNG Partners LP, an MLP formed by Höegh LNG to own three floating storage and regasification (FSR) units, filed on Thursday with the SEC to raise up to $150 million in an initial public offering. It will initially own a 50% interest in two FSRUs built four years ago with contracts that expire in 2029 and 2030 as well as a 100% interest in a newly-built FSRU contracted until 2034.
The Oslo, Norway-based company, which was formed in 2014 and booked $41 million in time charter revenue for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol HMLP. Höegh LNG Partners LP initially filed confidentially on April 1, 2014. Citi, BofA Merrill Lynch, Morgan Stanley, Barclays, and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
