Golar raises $150m in new bond issue

Golar raises $150m in new bond issue

Athens: Golar LNG has issued $150m in new senior unsecured bonds in the Norwegian market, which will be applied for listing on the Oslo Stock Exchange.

The net proceeds will be used to repay the company’s existing debt and shareholder loans, as well as for general corporate purposes.

Settlement is anticipated for May 22 this year, Golar said today, with the bonds set to mature around May 22, 2020.

The NASDAQ-listed company has used interest rate swaps to hedge the aggregate principal of the bond. The all-in interest cost for the $150m will be approximately 6.275%, Golar said.

Danske Bank Markets, DNB Markets, Nordea Markets and Pareto Securities are acting as joint bookrunners for the bond issuance, with DVB Capital Markets and Fearnley Securities acting as co-managers.

Golar LNG has won two major floating LNG project contracts in the space of two months,in South America and in Equatorial Guinea.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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