Golar LNG Partners Closes Public Offering, Bermuda
Golar LNG Partners announced that its previously announced public offering of 4,300,000 common units representing limited partner interests has closed.
Golar GP LLC, the Partnership’s general partner, contributed approximately $3.6 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 1,524,590 common units to Golar LNG Limited at a price of $30.50 per common unit, the same price paid by the underwriter in the Offering.
The Partnership expects to use the net proceeds from the Offering, the concurrent private placement and the general partner’s contribution to maintain its 2% general partner interest to fund the cash portion of the purchase price for the previously announced acquisition of the LNG carrier, the Golar Grand from Golar LNG, as well as for general partnership purposes. If the Golar Grand Acquisition does not close, the Partnership will use such net proceeds for general partnership purposes.
Morgan Stanley acted as the sole bookrunner in connection with the Offering.
LNG World News Staff, November 08, 2012