Golar LNG Limited Closes Offering of $575 Million of 2.75% Convertible Senior Notes Due 2030 and Repurchase of 2.5 Million Common Shares
Golar LNG Limited (NASDAQ: GLNG) has successfully closed its previously announced offering of $575 million of 2.75% Convertible Senior Notes due 2030, including a $75 million option exercise by initial purchasers. The Notes, sold to qualified institutional buyers under Rule 144A, carry a 2.75% annual interest rate payable semi-annually and mature on December 15, 2030.
The Notes are convertible into GLNG common shares, cash, or a combination thereof, at an initial conversion rate of 17.3834 common shares per $1,000 principal amount, equivalent to a conversion price of approximately $57.53 per share - a 40% premium over the June 25, 2025 closing price of $41.09.
The company has used part of the proceeds to repurchase 2.5 million common shares, reducing total outstanding shares to 102.3 million. The remaining proceeds will fund general corporate purposes, including potential investments in a fourth FLNG unit, MKII FLNG conversion costs, FLNG Hilli redeployment costs, debt repayment, and working capital.
Golar LNG Limited (NASDAQ: GLNG) ha completato con successo l'offerta precedentemente annunciata di 575 milioni di dollari di Note Convertibili Senior al 2,75% con scadenza nel 2030, inclusa l'opzione di acquisto da 75 milioni di dollari esercitata dagli acquirenti iniziali. Le Note, vendute a investitori istituzionali qualificati ai sensi della Rule 144A, prevedono un tasso di interesse annuo del 2,75% pagabile semestralmente e scadono il 15 dicembre 2030.
Le Note sono convertibili in azioni ordinarie GLNG, denaro contante o una combinazione di entrambi, con un tasso di conversione iniziale di 17,3834 azioni ordinarie per ogni 1.000 dollari di valore nominale, corrispondente a un prezzo di conversione di circa 57,53 dollari per azione - un premio del 40% rispetto al prezzo di chiusura del 25 giugno 2025 di 41,09 dollari.
L'azienda ha utilizzato parte dei proventi per riacquistare 2,5 milioni di azioni ordinarie, riducendo il totale delle azioni in circolazione a 102,3 milioni. I restanti fondi saranno destinati a scopi aziendali generali, inclusi potenziali investimenti in una quarta unit脿 FLNG, costi di conversione MKII FLNG, costi di rilocazione di FLNG Hilli, rimborso del debito e capitale circolante.
Golar LNG Limited (NASDAQ: GLNG) ha cerrado con 茅xito su oferta previamente anunciada de 575 millones de d贸lares en Notas Convertibles Senior al 2.75% con vencimiento en 2030, incluyendo una opci贸n de compra de 75 millones de d贸lares ejercida por los compradores iniciales. Las Notas, vendidas a compradores institucionales calificados bajo la Regla 144A, tienen una tasa de inter茅s anual del 2.75% pagadera semestralmente y vencen el 15 de diciembre de 2030.
Las Notas son convertibles en acciones comunes de GLNG, efectivo o una combinaci贸n de ambos, con una tasa de conversi贸n inicial de 17.3834 acciones comunes por cada 1,000 d贸lares de valor nominal, equivalente a un precio de conversi贸n de aproximadamente 57.53 d贸lares por acci贸n - una prima del 40% sobre el precio de cierre del 25 de junio de 2025 de 41.09 d贸lares.
La compa帽铆a ha utilizado parte de los ingresos para recomprar 2.5 millones de acciones comunes, reduciendo el total de acciones en circulaci贸n a 102.3 millones. Los ingresos restantes se destinar谩n a prop贸sitos corporativos generales, incluyendo posibles inversiones en una cuarta unidad FLNG, costos de conversi贸n MKII FLNG, costos de reubicaci贸n de FLNG Hilli, pago de deuda y capital de trabajo.
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Golar LNG Limited (NASDAQ : GLNG) a cl么tur茅 avec succ猫s son offre pr茅c茅demment annonc茅e de 575 millions de dollars de billets convertibles senior 脿 2,75 % 茅ch茅ant en 2030, incluant l'exercice d'une option de 75 millions de dollars par les acheteurs initiaux. Les billets, vendus 脿 des investisseurs institutionnels qualifi茅s selon la r猫gle 144A, portent un taux d'int茅r锚t annuel de 2,75 % payable semestriellement et arrivent 脿 茅ch茅ance le 15 d茅cembre 2030.
Les billets sont convertibles en actions ordinaires GLNG, en esp猫ces ou en une combinaison des deux, avec un taux de conversion initial de 17,3834 actions ordinaires pour 1 000 dollars de montant principal, 茅quivalant 脿 un prix de conversion d'environ 57,53 dollars par action - une prime de 40 % par rapport au cours de cl么ture du 25 juin 2025 脿 41,09 dollars.
La soci茅t茅 a utilis茅 une partie des fonds pour rachat de 2,5 millions d'actions ordinaires, r茅duisant le nombre total d'actions en circulation 脿 102,3 millions. Le reste des fonds servira 脿 des fins g茅n茅rales d'entreprise, y compris des investissements potentiels dans une quatri猫me unit茅 FLNG, les co没ts de conversion MKII FLNG, les co没ts de red茅ploiement de FLNG Hilli, le remboursement de la dette et le fonds de roulement.
Golar LNG Limited (NASDAQ: GLNG) hat sein zuvor angek眉ndigtes Angebot von 575 Millionen US-Dollar an 2,75% wandelbaren Senior Notes mit F盲lligkeit 2030 erfolgreich abgeschlossen, einschlie脽lich einer Aus眉bungsoption in H枚he von 75 Millionen US-Dollar durch die Erstk盲ufer. Die Notes wurden gem盲脽 Rule 144A an qualifizierte institutionelle K盲ufer verkauft, haben einen j盲hrlichen Zinssatz von 2,75%, der halbj盲hrlich gezahlt wird, und laufen am 15. Dezember 2030 ab.
Die Notes sind in GLNG-Stammaktien, Bargeld oder eine Kombination davon wandelbar, mit einem anf盲nglichen Wandlungsverh盲ltnis von 17,3834 Stammaktien pro 1.000 US-Dollar Nennwert, was einem Wandlungspreis von etwa 57,53 US-Dollar pro Aktie entspricht 鈥� ein Aufschlag von 40 % gegen眉ber dem Schlusskurs vom 25. Juni 2025 von 41,09 US-Dollar.
Das Unternehmen hat einen Teil der Erl枚se verwendet, um 2,5 Millionen Stammaktien zur眉ckzukaufen, wodurch die Gesamtzahl der ausstehenden Aktien auf 102,3 Millionen reduziert wurde. Die verbleibenden Erl枚se werden f眉r allgemeine Unternehmenszwecke verwendet, einschlie脽lich potenzieller Investitionen in eine vierte FLNG-Einheit, MKII FLNG-Umr眉stungskosten, FLNG Hilli-Umlagerungskosten, Schuldenr眉ckzahlung und Betriebskapital.
- Successful raise of $575 million through convertible notes offering
- 40% conversion premium indicates strong market confidence
- 2.5 million share repurchase demonstrates commitment to shareholder value
- Low interest rate of 2.75% suggests favorable financing terms
- Proceeds enable strategic growth initiatives including potential fourth FLNG unit
- Additional debt burden through $575 million notes issuance
- Potential future dilution if notes are converted to shares
- Increased interest expense with semi-annual payments
Insights
Golar LNG secures $575M in financing while reducing share count by 2.5M shares, strengthening its balance sheet for future FLNG growth initiatives.
Golar LNG has successfully closed a
Strategically, Golar has used part of the proceeds to repurchase 2.5 million shares (approximately
The capital raise appears primarily focused on funding the company's FLNG (Floating Liquefied Natural Gas) growth initiatives, including a potential fourth FLNG unit, conversion costs for MKII FLNG, and redeployment costs for FLNG Hilli. This suggests Golar is positioning to expand its operational footprint in the FLNG market, which aligns with growing global demand for flexible LNG infrastructure solutions. The combined financial maneuvers 鈥� raising convertible debt while simultaneously reducing share count 鈥� reflect a balanced approach to capital structure optimization, allowing Golar to pursue growth opportunities while maintaining shareholder value focus.
Hamilton, Bermuda, July 1, 2025聽-- Golar LNG Limited (the 鈥淐ompany鈥�) (NASDAQ: GLNG) announced today the closing of its previously announced offering of
The Notes are senior, unsecured obligations of the Company, bear interest at a rate of
The Company used a portion of the net proceeds from the sale of the Notes to repurchase 2.5 million of the Company鈥檚 common shares in connection with the offering of the Notes and intends to cancel these shares, reducing the total outstanding share count to 102.3 million shares. The Company plans to use the remaining net proceeds for general corporate purposes, which may include, among other things, future growth investments including a contemplated fourth FLNG unit, MKII FLNG conversion costs, FLNG Hilli redeployment costs, repaying indebtedness, and funding working capital and capital expenditures.
IMPORTANT INFORMATION
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. Any offer of the Notes will be made only by means of a private offering memorandum.
The Notes and the shares of common stock issuable upon conversion of the Notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from registration requirements under the Securities Act and applicable state securities laws.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management鈥檚 current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as 鈥渨ill,鈥� 鈥渕ay,鈥� 鈥渃ould,鈥� 鈥渟hould,鈥� 鈥渨ould,鈥� 鈥渆xpect,鈥� 鈥減lan,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渇orecast,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥減redict,鈥� 鈥減ropose,鈥� 鈥減otential,鈥� 鈥渃ontinue,鈥� 鈥渟ubject to鈥� or the negative of these terms and similar expressions are intended to identify such forward-looking statements and include statements related to the offering of the Notes, the terms and conditions, the intended use of proceeds and other non-historical matters.
These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict and which could cause actual outcomes and results to differ materially from what is expressed or forecasted in such forward-looking statements. Such risks include risks relating to the actual use of proceeds and other risks described in our most recent annual report on Form 20-F filed with the SEC.聽 You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.
Hamilton, Bermuda
July 1, 2025
Investor Questions: +44 207 063 7900
Karl Fredrik Staubo 鈥� CEO
Eduardo Maranh茫o 鈥� CFO
Stuart Buchanan 鈥� Head of Investor Relations
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
This announcement is not being made in and copies of it may not be distributed or sent into any jurisdiction in which the publication, distribution or release would be unlawful.
FAQ
What is the size and interest rate of Golar LNG's (GLNG) new convertible notes offering?
What is the conversion price for GLNG's 2030 convertible notes?
How many shares did Golar LNG (GLNG) repurchase with the offering proceeds?
When do Golar LNG's (GLNG) new convertible notes mature?
How does Golar LNG (GLNG) plan to use the remaining proceeds from the notes offering?
