(RTTNews) - Golar LNG Limited (GLNG) announced that it intends to offer $500 million aggregate principal amount of Convertible Senior Notes due 2030 in a private placement. The company also intends to grant the initial purchasers of the Notes a 30-day option to purchase up to an additional $75 million aggregate principal amount of the Notes in connection with the offering.
The Notes will be senior, unsecured obligations of the Company, pay interest semiannually in arrears on June 15 and December 15, mature on December 15, 2030, and be convertible into the company's common shares, cash, or a combination of shares and cash, at the company's election.
The company said it plans to use the net proceeds from the sale of the Notes to repurchase up to 2.5 million of the company's common shares in connection with the offering of the Notes and for general corporate purposes, which may include, among other things, future growth investments including a contemplated fourth FLNG unit, MKII FLNG conversion costs, FLNG Hilli redeployment costs, repaying indebtedness, and funding working capital and capital expenditures.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
