Golar LNG closes public offering

Golar LNG Ltd has closed its registered offering of 12 650 000 shares of its common stock, par value US$ 1.00/share, which included 1 650 000 common shares purchased pursuant to the Underwriters' previously announced option to purchase additional common shares.

The proceeds of the offering are expected to be used t fully fund initial milestone payments under a conditional agreement with Singapore's Keppel Shipyard Ltd in connection with the conversion of an LNG carrier, the Hilli, to a floating liquefaction natural gas vessel, and partly fund other future scheduled payments under the Conversion Agreement.

Depending on the timing of these future scheduled payments, Golar LNG may temporarily invest the remaining funds on a short-term basis or use the funds for other general corporate purposes.

BofA Merrill Lynch, Goldman, Sachs & Co., Morgan Stanley and RS Platou Markets AS acted as joint book-running managers, and Arctic Securities, DNB Markets, Fearnley Securities and Pareto Securities acted as co-managers in the offering.

Adapted from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/lng-shipping/01072014/golar_lng_closes_public_offering_889/