Golar LNG Limited said that its Board of Directors has authorized a convertible bond repurchase program.
Under the program, the company may repurchase up to $50 million of Golar’s outstanding convertible bonds, Golar LNG Limited said in a statement.
The authorization is effective immediately and remains valid until 31 December 2015.
The company intends to repurchase convertible bonds for cash in the open market transactions or in privately-negotiated transactions, and timing of the purchases will be based on the company’s evaluation of market conditions.
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Image: Golar LNG