Golar LNG Partners on Thursday announced plans to raise between NOK 1m and 1.3m ($227m) from the issuance of senior unsecured notes Oslo with maturity in October 2017.
The shipowner says proceeds will be used to pay down a $223m shareholder loan from affiliate Golar LNG Limited and intends to use the remainder for general corporate purposes.
Nordic financial giants DNB Markets and Nordea Markets were called in to serve as joint lead managers, the John Fredriksen-backed company told investors in a statement.
In a note to clients, Arctic Securities analyst Erik Nikolai Stavseth said the market was largely expecting today’s development and expects to see a limited impact on the share price of Golar Limited but believes the bond is still positive at will improve its cash position.
As we reported, the Norwegian bond market was heating up with activity Tuesday with US-quoted tanker and gas-carrier giant Teekay Corp andOslo-listed offshore specialist Subsea 7 joining Golar Partners in the dash for cash.
