Golar LNG Prices Offering

Golar LNG Prices Offering

Golar LNG Limited announced the pricing of its registered offering of 11,000,000 shares of its common stock, par value $1.00 per share, at a price to the public of $54.00 per share.  

The company granted the underwriters a 30-day option to purchase up to an additional 1,650,000 common shares.

The proceeds of the offering are expected to be used to fully fund initial milestone payments under a conditional agreement with Singapore’s Keppel Shipyard Limited in connection with the conversion of an LNG carrier, the Hilli, to a floating liquefaction natural gas vessel andpartly fund other future scheduled payments under the conversion agreement.  

Depending on the timing of these future scheduled payments, the company may temporarily invest the remaining funds on a short-term basis or use the funds for other general corporate purposes. The offering is scheduled to close on June 30, 2014, subject to customary closing conditions.

BofA Merrill Lynch, Goldman, Sachs & Co., Morgan Stanley and RS Platou Markets AS are acting as joint book-running managers and Arctic Securities, DNB Markets, Fearnley Securities and Pareto Securities are acting as co-managers in the offering.  

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Press Release, June 25, 2014