Golar LNG Prices $500M Senior Notes at 7.5% to Fund FLNG Expansion
GLNG sits 43% above its 52-week low of $35.02.
Summary
Golar LNG priced a $500 million private offering of senior unsecured notes due 2031 at 7.5% interest, issued at 99% of principal. The notes settle October 8, 2026. This follows the company's September 21 announcement of fixed income investor meetings and its August 19 disclosure of going concern risk tied to FLNG growth capital needs. The offering provides funding for the company's expansion plans, including the recently ordered fourth FLNG unit. The 7.5% coupon reflects the company's credit profile and current market conditions. Proceeds are expected to support capital expenditures and general corporate purposes.
At the time of this announcement, GLNG was trading at $50.20 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $35.02 to $57.79. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.