Press Release

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

12 Nov 2013

Dynagas LNG Partners LP

ATHENS, GREECE - Dynagas LNG Partners LP ("Dynagas Partners") (NASDAQ: DLNG) announced today that it has priced its initial public offering of 12,500,000 common units at $18.00 per unit. These common units represent limited partner interests and include 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 has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 common units at the same price per unit. The common units being offered to the public are expected to begin trading on November 13, 2013 on the Nasdaq Global Select Market under the symbol "DLNG." The offering is expected to close on or about November 18, 2013, subject to customary closing conditions.

Following the closing of the offering, Dynagas Holding is expected to own 2,485,000 common units and all of the subordinated units of Dynagas Partners, representing a 58.3% limited partner interest in Dynagas Partners. If the underwriters' over-allotment option is exercised in full, Dynagas Holding is expected to own 610,000 common units and all of the subordinated units, representing a 52.0% limited partner interest in Dynagas Partners.

Dynagas Partners intends to use the net proceeds from this offering, together with the net proceeds of the new $262.13 million senior secured credit facility that it expects to enter into in connection with the closing of this offering, to repay all of its existing secured indebtedness and for general partnership purposes, including working capital and vessel acquisitions.

Credit Suisse, BofA Merrill Lynch, Morgan Stanley, Barclays and Deutsche Bank Securities are acting as joint book-running managers of this offering, and ABN AMRO and Cr.dit Agricole CIB are acting as co-managers of 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:; BofA Merrill Lynch, Attention Prospectus Department, 222 Broadway, New York, NY 10038 or email; 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:; or Deutsche Bank Securities, Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, telephone (800) 503-4611 or email:

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission ("SEC"). The registration statement is available on the SEC's website at

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:

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

Attention: Michael Gregos
Telephone: (011) 30 210 8917260

Copyright © 2013-2021 Dynagas LNG Partners LP. All Rights Reserved.