Golar announces pricing of USD 300 million unsecured bond issue
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.
Golar LNG (GLNG) ha concluso con successo l'emissione di obbligazioni senior non garantite per 300 milioni di USD nel mercato obbligazionario nordico. Le obbligazioni scadranno a settembre 2029 e presenteranno un tasso d'interesse del 7,75% annuo. L'azienda prevede di utilizzare il netto ricavato per spese in conto capitale, rifinanziamento del debito e scopi aziendali generali. Verrà presentata una domanda per quotare le obbligazioni sulla Borsa di Oslo. L'emissione obbligazionaria è stata facilitata da DNB Markets e Pareto Securities come Coordinatori Globali e Joint Bookrunners, mentre Clarksons Securities e Fearnley Securities hanno agito come Joint Bookrunners.
Golar LNG (GLNG) ha logrado con éxito colocar 300 millones de USD en bonos senior no garantizados en el mercado de bonos nórdico. Los bonos vencerán en septiembre de 2029 y tendrán una tasa de interés del 7,75% anual. La compañía planea utilizar los ingresos netos para gastos de capital, refinanciación de deudas y fines corporativos generales. Se presentará una solicitud para listar los bonos en la Bolsa de Valores de Oslo. La emisión de bonos fue facilitada por DNB Markets y Pareto Securities como Coordinadores Globales y Joint Bookrunners, con Clarksons Securities y Fearnley Securities actuando como Joint Bookrunners.
Golar LNG (GLNG)가 노르딕 채권 시장에서 성공적으로 3억 달러의 선순위 무담보 채권을 발행했습니다. 이 채권은 2029년 9월에 만료됩니다이며 연 7.75%의 이자율을 적용합니다. 회사는 순수익을 자본 지출, 부채 재융자 및 일반 회사 용도에 사용할 계획입니다. 이 채권을 오슬로 증권 거래소에 상장하기 위한 신청이 제출될 예정입니다. 이번 채권 발행은 DNB Markets와 Pareto Securities가 글로벌 조정자 및 공동 주관사로, Clarksons Securities와 Fearnley Securities가 공동 주관사로 참여했습니다.
Golar LNG (GLNG) a réussi à émettre 300 millions USD d'obligations senior non garanties sur le marché obligataire nordique. Les obligations arriveront à échéance en septembre 2029 et auront un taux d'intérêt de 7,75 % par an. La société prévoit d'utiliser le produit net pour des dépenses d'investissement, le refinancement de dettes et des fins corporatives générales. Une demande sera soumise pour inscrire les obligations à la Bourse d'Oslo. L'émission obligataire a été facilitée par DNB Markets et Pareto Securities en tant que Coordinateurs Globaux et Joint Bookrunners, avec Clarksons Securities et Fearnley Securities agissant comme Joint Bookrunners.
Golar LNG (GLNG) hat erfolgreich 300 Millionen USD in unbesicherten vorrangigen Anleihen auf dem nordischen Anleihenmarkt platziert. Die Anleihen laufen im September 2029 aus und tragen einen Zinssatz von 7,75 % pro Jahr. Das Unternehmen plant, die Nettomittel für Investitionen, Schuldenrefinanzierung und allgemeine Unternehmenszwecke zu verwenden. Ein Antrag wird gestellt, um die Anleihen an der Oslo Börse zu listen. Die Anleiheemission wurde von DNB Markets und Pareto Securities als globale Koordinatoren und Joint Bookrunners unterstützt, während Clarksons Securities und Fearnley Securities als Joint Bookrunners agierten.
- 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
- 7.75% interest rate may increase interest expenses
- Issuance of unsecured bonds could potentially increase financial risk
Insights
Golar LNG's USD 300 million bond issue is a significant move that strengthens its financial position. The 7.75% interest rate is relatively competitive in the current market, reflecting investor confidence in Golar's creditworthiness. This unsecured bond, maturing in 2029, provides long-term financing flexibility. The use of proceeds for capital expenditure suggests potential growth initiatives, while debt refinancing could optimize the company's capital structure. Listing on the Oslo Exchange may enhance liquidity and attract a broader investor base. However, investors should consider the additional debt burden and its impact on Golar's balance sheet. The success of this bond issue in the Nordic market demonstrates Golar's ability to access diverse funding sources, a positive sign for financial stability.
This bond issue underscores Golar LNG's strategic positioning in the evolving LNG market. With the global shift towards cleaner energy, LNG infrastructure investments are crucial. The
The successful pricing of this bond issue in the Nordic market is noteworthy, indicating strong investor appetite for LNG sector exposure. The involvement of reputable financial institutions as bookrunners adds credibility to the offering. The 7.75% yield suggests a balanced risk assessment by investors, considering both Golar's potential and the broader energy market uncertainties. This transaction may set a benchmark for other LNG companies seeking capital. Investors should watch for potential market reactions, as this could influence sentiment towards the LNG sector. The bond's 6-year maturity aligns well with the industry's project timelines, providing Golar with a stable funding base for medium-term strategic initiatives. Overall, this successful bond issuance could positively impact investor perception of Golar's financial health and growth prospects.
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?
