Golar announces pricing of USD 300 million unsecured bond issue
Rhea-AI Summary
Golar LNG (GLNG) has successfully priced USD 300 million in senior unsecured bonds in the Nordic bond market. The bonds will mature in September 2029 and carry an interest rate of 7.75% per annum. The company plans to use the net proceeds for capital expenditure, debt refinancing, and general corporate purposes. An application will be submitted to list the bonds on the Oslo Stock Exchange. The bond issue was facilitated by DNB Markets and Pareto Securities as Global Coordinators and Joint Bookrunners, with Clarksons Securities and Fearnley Securities acting as Joint Bookrunners.
Positive
- Successfully raised USD 300 million through bond issuance
- Bonds have a 7-year maturity, providing long-term financing
- Funds to be used for capital expenditure and debt refinancing, potentially improving financial position
Negative
- 7.75% interest rate may increase interest expenses
- Issuance of unsecured bonds could potentially increase financial risk
News Market Reaction 1 Alert
On the day this news was published, GLNG declined 2.78%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Golar LNG Limited (the “Company”) has today successfully priced USD 300 million in senior unsecured bonds in the Nordic bond market. The bonds will mature in September 2029 and bear interest at
DNB Markets and Pareto Securities acted as Global Coordinators and Joint Bookrunners, and Clarksons Securities and Fearnley Securities as Joint Bookrunners in the bond issue.
About Golar
Golar LNG is a NASDAQ listed maritime LNG infrastructure company. Through its 75-year history, the Company has pioneered maritime LNG infrastructure including the world's first Floating LNG liquefaction terminal (FLNG) and Floating Storage and Regasification Unit (FSRU) projects based on the conversion of existing LNG carriers. Today Golar is a focused FLNG company, and the only proven provider of FLNG as a service. Golar owns the world’s largest fleet of FLNG units by annual liquefaction capacity, with a market leading operational track record.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended). All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.
You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.
Hamilton, Bermuda
September 5, 2024
Investor Questions: +44 207 063 7900
Karl Fredrik Staubo - CEO
Eduardo Maranhão - CFO
Stuart Buchanan - Head of Investor Relations
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
FAQ
What is the size and interest rate of Golar LNG's (GLNG) new bond issue?
When will Golar LNG's (GLNG) newly issued bonds mature?
How does Golar LNG (GLNG) plan to use the proceeds from the bond issue?
Which stock exchange will Golar LNG (GLNG) apply to list the new bonds on?
