Hoegh LNG nets $178 million in bond sale

Norway-based floating LNG giant Höegh LNG has completed the previously announced bond sale worth NOK 1.5 billion ($178 million).

The bond issue was substantially oversubscribed and would be swapped from floating 3M NIBOR to fixed USD interest rate, the Oslo-based company said on Thursday.

The net proceeds from the bond issue will be used for the part refinancing of the previous bond issue with ticker HLNG01 and general corporate purposes.

Danske Bank Markets, DNB Markets and Nordea Markets acted as joint lead managers for the bond issue.

Höegh LNG signed this week shipbuilding contracts with Samsung Heavy Industries and Hyundai Heavy Industries for two floating storage and regasification units (FSRUs), cementing its position as one of the world’s leading companies in the floating LNG segment.

Höegh LNG now has 10 FSRUs in operation or under construction.

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Posted on January 20, 2017 with tags .

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