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Re: Cobas AM: Nueva Gestora de Francisco García Paramés
Golar LNG prices $300M bond issue
- Golar LNG (NASDAQ:GLNG) placed $300M in senior unsecured bonds in the Nordic bond market.
- The bonds will mature in October 2025 and bear interest at 7.00% per annum.
- Net proceeds will be used towards the refinancing of the company’s outstanding convertible bonds maturing in February 2022 and for general corporate purposes.
- An application will be made for the bonds to be listed on the Oslo Stock Exchange.
- GLNG -0.077% after hours to $12.98
- Now Read: Golar LNG Limited (GLNG) CEO Karl Staubo on Q2 2021 Results - Earnings Call Transcript
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Comments (12)Newest
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Yesterday, 8:27 PM
Not too bad. They also announced a new RCF last week secured by the NFE stake (what a terrible deal).
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Yesterday, 11:33 PM
@Henrik Alex Why is it a terrible deal?
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J
Today, 12:38 AM
@alvarodrs It is a poor financial decision by GLNG in my view to collateralize their credit facility with NFE stock, down 55% since the day the HYGO deal was announced in mid-January.
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Today, 12:51 AM
@Joseph V why? They clearly benefit from having the access to credit and they were going to hold NFE until its at least above 50-60$ so in the mean time they arrange the liquidity so that in a harsh environment they are not force to sell NFE at a bargain price
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Yesterday, 5:53 PM
Don’t really trust any of these companies. Gltu
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L
Yesterday, 5:33 PM
Interest rate isn't the lowest but I have to assume this is a major positive in their overall liquidity picture. And it sounds like these are unsecured, meaning that they didn't have to pledge their NFE stake as collateral. Unless I'm missing something (would explain why the interest rate is 7).
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J
Today, 2:50 AM
@LoStInvestor GLNG pledged their NFE stake as collateral last week for a $200 million, 3-year revolving credit facility at LIBOR +300, per the 9/30 press release.
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Yesterday, 5:27 PM
They should change their name from "Golar" to "Solar" and say they're now mining bitcoin and the market cap would go up by at least $300M...
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Yesterday, 5:25 PM
Great rate!
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