Bermuda: Golar LNG Partners Prices Public Offering

Golar LNG Partners LP announced today that it has priced its follow-on public offering of 5,500,000 common units, which represent limited partner interests, at a price of $30.95 per unit. The Partnership has granted the underwriters a 30-day option to purchase up to an additional 825,000 common units.

In addition, Golar LNG Limited has agreed to purchase directly from the Partnership in a private placement 969,305 common units at a price of $30.95 per unit, such private placement to close concurrently with the public offering of common units.

The Partnership intends to use the net proceeds from the public offering, the concurrent private placement and the general partner’s contribution to maintain its 2% general partner interest to fund part of the purchase price for its previously announced acquisition of the ownership interests in the companies that own and operate the floating storage and regasification unit (“FSRU”) the Nusantara Regas Satu (formerly known as Khannur) (“NR Satu”) from Golar LNG (the “Acquisition”). Golar Partners expects to fund the remainder of the purchase price with a loan from Golar LNG and cash on hand. Golar Partners expects to use the net proceeds of any exercise by the underwriters of their option to purchase additional common units for general partnership purposes. If the Acquisition does not close, Golar Partners will use the net proceeds from the public offering, the concurrent private placement and the general partner’s contribution for general partnership purposes.

The joint book running managers for this offering are Citigroup, BofA Merrill Lynch, Morgan Stanley, Wells Fargo Securities and Goldman, Sachs & Co. The senior co-managers are UBS Investment Bank and RBC Capital Markets. The junior co-managers are BNP Paribas and DNB Markets.

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LNG World News Staff, July 11, 2012