The company said on Thursday it has priced the private offering of $500 million in aggregate principal amount of unsecured senior notes due 2030.
According to Golar, the notes will bear interest at a rate of 7.500 percent per year and will mature on October 2, 2030.
The Notes will be issued at par and will be senior unsecured obligations of the company.
Golar said the sale of the notes to the initial purchasers is expected to settle on October 2, 2025, subject to customary closing conditions.
Earlier this week, the company announced that it has mandated a syndicate of banks to arrange a series of fixed-income investor meetings commencing Monday, September 22.
“An offering of USD 144A/Reg S denominated benchmark 5NC2 senior unsecured notes may follow, subject to market conditions,” Golar said in that statement.
FLNG growth
Golar completed a $575 million senior notes offering earlier this year
The company said at the time that it plans to use the net proceeds for general corporate purposes, which may include future growth investments, including a contemplated fourth FLNG unit, MKII FLNG conversion costs, and FLNG Hilli redeployment costs.
Golar is moving forward with its plans to order its fourth FLNG conversion.
In order to secure “attractive” delivery, Golar recently said in its results report that it plans to enter into slot reservations for long-lead equipment within the third quarter of this year.
The company said it had increased its focus on securing “attractive” FLNG growth units, following 20-year charter deals in Argentina for FLNG Hilli Episeyo and the MKII FLNG, currently under conversion at CIMC Raffles shipyard in Yantai, China.
In addition, FLNG Gimi reached the commercial operations date (COD) for its 20-year lease and operate agreement for the BP-led Greater Tortue Ahmeyim (GTA) project, offshore Mauritania and Senegal
“We are working with three prospective shipyards for different FLNG designs (MKI, MKII, and MKIII with liquefaction capacities ranging from 2.0 to 5.4 mtpa) to obtain updated EPC price and delivery schedules,” the company said in the quarterly report.
