Bermuda: Golar LNG Partners Closes Public Offering
Golar LNG Partners announced that its previously announced public offering of 5,500,000 common units representing limited partner interests at $30.95 per common unit has closed.
Additionally, the Underwriters have exercised in full their option to purchase an additional 825,000 common units in the Offering. The total number of common units sold in the Offering was therefore 6,325,000.
Golar GP LLC, the Partnership’s general partner, contributed approximately $4.6 million to the Partnership to maintain its 2.0% general partner interest in the Partnership. The Partnership also announced that it has closed a private placement of 969,305 common units to Golar LNG Limited at a price of $30.95 per common unit.
Immediately following the closing, the Partnership’s parent, Golar LNG, owns 10,296,559 common units and 15,949,831 subordinated units, representing an approximate 55.5% limited partner interest, and a 2.0% general partner interest in the Partnership (through Golar LNG’s ownership of the general partner).
The Partnership expects to use the net proceeds from the Offering, the capital contribution by Golar GP LLC and the proceeds of the private placement to fund a portion of the purchase price for the previously-announced acquisition of ownership interests in the subsidiaries that own and operate the Nusantara Regas Satu and related mooring facilities from Golar LNG , as well as for general partnership purposes.
If the NR Satu Acquisition does not close, the Partnership will use such proceeds for general partnership purposes.
LNG World News Staff, July 17, 2012