Golar looking to cash in through $350 mln offering

Golar looking to cash in through $350 mln offering
Image courtesy of Golar LNG

Golar LNG intends to offer US$350 million senior notes due 2022 to fund the operations and cost of the initial capped call transactions. 

According to the company’s statement, it intends to enter into capped call transactions with one or more of the initial purchasers of the Notes or their affiliates.

Golar expects the capped call to reduce the potential dilution to the company’s common shares upon and/or offset the cash payments the company is required to make in excess of the principal amount of converted notes.

The company also intends to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $52.5 million aggregate principal amount of the notes in connection with the offering, solely to cover overallotments.

Notes would be offered in a private placement to qualified institutional buyers, the company said.

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Posted on February 14, 2017 with tags .


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