Golar LNG revealed the pricing of an underwritten secondary offering of 7,170,000 common units representing limited partner interests in Golar LNG Partners.
The units offered by Golar LNG are priced at $29.90 per unit, and according to the company, it intends to use the net proceeds of the offering to fund a portion of the contract with Keppel Shipyard to convert one of its first generation LNG carriers, Gimi, into a floating natural gas liquefaction facility.
Following completion of the offering, Golar will own the following interests in Golar Partners: 1,668,096 common units, 15,949,831 subordinated units, the 2% general partner interest (through its ownership of the general partner) and all of the incentive distribution rights. The common, subordinated and general partner units amount to approximately 30% of Golar Partners total units in issue and this is expected to remain as a long-term holding.
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LNG World News Staff; Image: Keppel