Golar LNG cashes in over $402 million

Golar LNG cashes in over $402 million

Golar LNG’s offering of 2.75 percent convertible senior notes brought in US$402.5 million in a private placement to qualified institutional buyers. 

The proceeds include $52.5 million aggregate principal amount of the notes sold following the purchasers’ exercise of a 30-day option to buy additional notes, the company said in a statement.

The notes bearing interest at a rate of 2.75 percent per year are payable twice a year on February 15 and August 15 each year and can be converted into company shares at a rate of $37.69 per share.

Golar LNG used approximately $31.2 million of the net proceeds from the sale of the notes to fund the cost of the capped call transactions, including $4.1 million to fund the cost of capped call transactions related to the sale of the additional notes, and will use the remaining funds for other general corporate purposes.

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Posted on February 20, 2017 with tags .


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