HMLP - HMLP STOCK NEWS

Höegh LNG Partners LP (NYSE: HMLP) announced a quarterly cash distribution of $0.01 per unit for common units, payable on February 15, 2022. This distribution is for the quarter ended December 31, 2021, with a record date of January 27, 2022. Additionally, a cash distribution of $0.546875 per 8.75% Series A preferred unit will also be made on the same payment date. The record date for preferred unitholders is February 8, 2022.

Höegh LNG Partners LP (NYSE: HMLP) announced the successful refinancing of two significant debt facilities: the PGN FSRU Lampung and the Neptune. The Refinanced Lampung Facility amounts to $15.5 million, with payments structured until June 2026, while the New Neptune Facility totals $154 million, fully amortized over eight years. The Partnership faces restrictions on cash flow distribution from the Lampung due to ongoing arbitration, but preferred and common unit distributions remain unaffected. Future refinancing of the Cape Ann facility is also in progress.

Höegh LNG Partners LP (NYSE: HMLP) announced on December 6, 2021 that it received an unsolicited proposal from Höegh LNG Holdings Ltd. to acquire all publicly held common units for $4.25 per unit. The offer is subject to approval by the HMLP Board and its Conflicts Committee, as well as the holders of a majority of outstanding common units. No assurance is provided that a definitive agreement will be reached. The partnership has retained advisors to evaluate the offer, which includes customary closing conditions and other contingencies.

Höegh LNG Partners LP (NYSE: HMLP) reported its third-quarter 2021 results, revealing total time charter revenues of $35.6 million, a slight decline from $35.9 million in Q3 2020. Operating income decreased to $27.1 million from $28.1 million year-over-year, while net income fell to $17.4 million compared to $19.5 million in the prior year. Cash distribution remained steady at $0.01 per common unit. Key developments include a ten-year charter agreement with New Fortress Energy and a pending refinancing of the commercial tranche of the Lampung facility.

Höegh LNG Partners LP (NYSE: HMLP) will release its third quarter 2021 results on November 18, 2021, before the market opens. A presentation will take place at 8:30 A.M. (EST), followed by a Q&A session. Interested participants can join via a webcast or a teleconference using specified dial-in numbers. For those unable to attend, a replay will be available until November 25, 2021. Further information and presentation material can be accessed at hoeghlngpartners.com.

Höegh LNG Partners LP (NYSE: HMLP) announced a quarterly cash distribution of $0.01 per unit for common units for the quarter ended September 30, 2021. The payment will be made on November 15, 2021, to unitholders of record as of the close of business on October 29, 2021. Additionally, the Partnership declared a cash distribution of $0.546875 for the 8.75% Series A preferred units, also payable on November 15, 2021, to record holders as of November 8, 2021.

Höegh LNG Partners LP (HMLP) announced on October 9, 2021, that Sveinung J. S. Støhle will step down as CEO effective November 1, 2021, to pursue another career outside Norway. The Board is currently searching for a successor, appointing CFO Håvard Furu as interim CEO during this period. Støhle, who has led the company since 2005, expressed gratitude for his time at Höegh LNG, highlighting the organization's accomplishments in the LNG sector. Thor Jørgen Guttormsen has been appointed interim President & CEO of Höegh LNG Holdings Ltd.

Höegh LNG Partners LP (NYSE: HMLP) announced an agreement to defer the maturity date of its PGN FSRU Lampung debt facility from September 29, 2021, to January 14, 2022. This extension allows additional time for refinancing. If commitment letters for refinancing are secured by December 29, 2021, the maturity will further extend to March 29, 2022. However, no dividends can be paid to shareholders until the maturity date, and refinancing terms may be less favorable, potentially diluting unitholder value.

Höegh LNG Partners LP (NYSE: HMLP) announced a 10-year charter agreement with a New Fortress Energy subsidiary for the Höegh Gallant to operate as an FSRU, beginning in Q4 2021. The new charter rate will be lower than the previous agreement; however, Höegh LNG will compensate HMLP for the difference until July 31, 2025. This contract aims to extend the Partnership's contract coverage, enhance its average charter length, and broaden its customer base. The new charter will service the Old Harbour facility in Jamaica, increasing operational efficiency.