Golar LNG Closes $600M Revolving Credit Facility to Fuel FLNG Growth
GLNG sits 40% above its 52-week low of $35.02.
Summary
Golar LNG closed a new $600 million senior secured revolving credit facility, strengthening its balance sheet and supporting further FLNG expansion. The facility is secured by the company's investment in the MKII FLNG, currently under conversion in China for a 20-year contract with Southern Energy S.A. in Argentina. Strong bank backing from ABN AMRO, Citibank, Danske Bank, and Standard Chartered Bank signals lender confidence. This follows a $200 million secured revolving credit facility disclosed in June, indicating continued access to capital for growth projects. The new facility provides material liquidity and flexibility for Golar's FLNG pipeline.
At the time of this announcement, GLNG was trading at $49.15 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $5B. The 52-week trading range was $35.02 to $57.79. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.