Credit pledge: Hoegh LNG hopes to pump in $100m of equity to avoid bond redemption

Norway’s Hoegh LNG aims to inject at least $100m of new equity into the company to avoid a much more expensive bond repurchase.

The LNG carrier owner has a deadline of 1 April to fulfil a “credit event”.

It can either pump in the new cash or pledge all its shares in spin-off Hoegh LNG Partners to the bondholders.

Two bonds issues worth NOK 2.47bn