Golar LNG Signs Finance Lease Agreements for FLNG Gimi
Golar LNG has announced entering into finance lease agreements with Chinese leasing companies to refinance the existing FLNG Gimi debt facility. The sale leaseback facility will amount to approximately $1.2 billion, with an expected closing within Q2 2025.
The facility features a 12-year tenor and 17-year amortization profile with quarterly repayments. Upon closing and repayment of the existing debt facility, Gimi MS is expected to generate net proceeds of approximately $530 million, including the release of existing interest rate swaps. Golar will receive 70% of these proceeds, equivalent to approximately $371 million.
Golar LNG ha annunciato di aver stipulato contratti di leasing finanziario con aziende di leasing cinesi per rifinanziare l'attuale facilità di debito del FLNG Gimi. La struttura di vendita e leasing ammonterà a circa 1,2 miliardi di dollari, con una chiusura prevista entro il secondo trimestre del 2025.
La struttura prevede un periodo di 12 anni e un profilo di ammortamento di 17 anni con rimborsi trimestrali. Al momento della chiusura e del rimborso dell'attuale facilità di debito, si prevede che Gimi MS genererà proventi netti di circa 530 milioni di dollari, inclusa la liberazione degli swap sui tassi di interesse esistenti. Golar riceverà il 70% di questi proventi, equivalente a circa 371 milioni di dollari.
Golar LNG ha anunciado que ha firmado acuerdos de arrendamiento financiero con empresas de leasing chinas para refinanciar la actual facilidad de deuda del FLNG Gimi. La instalación de venta y arrendamiento ascenderá a aproximadamente 1.2 mil millones de dólares, con un cierre esperado dentro del segundo trimestre de 2025.
La facilidad cuenta con un plazo de 12 años y un perfil de amortización de 17 años con pagos trimestrales. Al cierre y el reembolso de la facilidad de deuda existente, se espera que Gimi MS genere ingresos netos de aproximadamente 530 millones de dólares, incluida la liberación de los swaps de tasas de interés existentes. Golar recibirá el 70% de estos ingresos, equivalente a aproximadamente 371 millones de dólares.
Golar LNG는 중국 임대 회사와 금융 임대 계약을 체결하여 기존 FLNG Gimi 부채 시설을 재융자한다고 발표했습니다. 매각 및 임대 시설은 약 12억 달러에 달하며, 2025년 2분기 내에 마감될 것으로 예상됩니다.
이 시설은 12년의 기간과 17년의 상환 프로필을 특징으로 하며 분기별 상환이 진행됩니다. 기존 부채 시설의 마감 및 상환 시, Gimi MS는 약 5억 3천만 달러의 순수익을 창출할 것으로 예상되며, 기존의 금리 스왑 해제도 포함됩니다. Golar는 이 수익의 70%를 수령하게 되며, 이는 약 3억 7천 1백만 달러에 해당합니다.
Golar LNG a annoncé avoir conclu des contrats de location-financement avec des sociétés de leasing chinoises pour refinancer l'actuelle facilité de dette du FLNG Gimi. La facilité de vente et de location s'élèvera à environ 1,2 milliard de dollars, avec une clôture prévue d'ici le deuxième trimestre 2025.
La facilité présente une durée de 12 ans et un profil d'amortissement de 17 ans avec des remboursements trimestriels. Lors de la clôture et du remboursement de la facilité de dette existante, Gimi MS devrait générer des produits nets d'environ 530 millions de dollars, y compris la libération des swaps de taux d'intérêt existants. Golar recevra 70 % de ces produits, soit environ 371 millions de dollars.
Golar LNG hat angekündigt, Finanzierungsleasingverträge mit chinesischen Leasinggesellschaften abzuschließen, um die bestehende FLNG Gimi Schuldenfazilität umzuschulden. Die Verkaufs- und Leasingfazilität wird etwa 1,2 Milliarden Dollar betragen, mit einem voraussichtlichen Abschluss im zweiten Quartal 2025.
Die Fazilität hat eine Laufzeit von 12 Jahren und ein 17-jähriges Amortisationsprofil mit vierteljährlichen Rückzahlungen. Nach dem Abschluss und der Rückzahlung der bestehenden Schuldenfazilität wird erwartet, dass Gimi MS Nettomittelzuflüsse von etwa 530 Millionen Dollar generiert, einschließlich der Freigabe bestehender Zinsswaps. Golar wird 70% dieser Mittelzuflüsse erhalten, was etwa 371 Millionen Dollar entspricht.
- Substantial refinancing secured: $1.2 billion facility
- Significant cash injection: $371 million in proceeds for Golar
- Extended repayment timeline with 12-year tenor and 17-year amortization
- Release of existing interest rate swaps providing additional liquidity
- New debt obligation of $1.2 billion
- Transaction subject to closing conditions and third-party approvals
Insights
Golar LNG's new $1.2 billion sale and leaseback facility represents a substantial refinancing maneuver with significant positive implications for the company's financial structure. The transaction will generate
The financial architecture of this deal is notably favorable. The 12-year tenor coupled with a 17-year amortization profile creates an extended repayment schedule that will likely improve Golar's cash flow dynamics. This structure typically results in lower periodic payments compared to standard debt facilities with matching tenor and amortization periods.
This refinancing represents approximately
The release of existing interest rate swaps mentioned in the announcement indicates the company is adjusting its hedging strategy alongside this refinancing. The involvement of Chinese leasing companies points to Golar diversifying its funding sources beyond traditional maritime lending.
While creating long-term lease obligations, this transaction appears to substantially bolster Golar's immediate liquidity position while establishing a more manageable long-term payment structure for its FLNG Gimi asset.
Golar LNG Limited (“Golar”) is pleased to announce that it has entered into finance lease agreements with a consortium of leading Chinese leasing companies for the refinancing of the existing FLNG Gimi debt facility. The sale leaseback facility will be approximately
The contemplated sale and leaseback facility will have a tenor of 12 years and a 17-year amortization profile, with quarterly repayment installments throughout the lease period. Upon closing and repayment of the existing debt facility, Gimi MS Corporation is expected to generate net proceeds of approximately USD 530 million. This amount includes the release of existing interest rate swaps. Golar will benefit from
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current expectations, estimates and projections about its operations. 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,” “subject to” or the negative of these terms and similar expressions are intended to identify such forward-looking statements.
These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking 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
March 20, 2025
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 of Golar LNG's new finance lease facility for FLNG Gimi?
When is GLNG expected to close the Gimi refinancing deal?
How much will Golar LNG receive from the Gimi refinancing proceeds?
What are the terms of GLNG's new Gimi finance lease agreement?
How much are the total net proceeds expected from the Gimi refinancing?
