Golar LNG Limited has announced that it intends to offer, subject to market and other conditions, US$350 million aggregate principal amount of Convertible Senior Notes due 2022 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
The company also intends to grant the initial purchasers of the Notes a 30-day option to purchase up to an additional US$52.5 million aggregate principal amount of the Notes in connection with the offering, solely to cover overallotments.
The Notes will be senior, unsecured obligations of the Company, pay interest semiannually in arrears on 15 February and 15 August, mature on 15 February 2022, and be convertible into the Company's common shares, cash, or a combination of shares and cash, at the company's election.
The company intends to use a portion of the net proceeds from the sale of the Notes to fund the cost of the initial capped call transactions described below and use the remaining funds for other general corporate purposes.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/14022017/golar-lng-limited-announces-proposed-offering-of-us350-million-of-senior-notes/