Golar LNG Partners Prices Offering to Collect USD 138 Mn
- Business & Finance
Nasdaq-listed Golar LNG Partners has priced its public offering of 4.8 million of shares, aiming to raise up to USD 138 million.
The company said that its 8.75% Series A cumulative redeemable preferred units, representing limited partner interests, were priced at USD 25 per unit.
The company said that distributions would be payable at a rate of 8.75% per annum of the stated liquidation preference of USD 25, adding that the offering is expected to close on October 31, 2017.
Golar LNG Partners has also granted the underwriters a 30-day option to purchase up to an additional 720,000 preferred units.
Net proceeds from the offering and any exercise of the underwriters’ option would be used to purchase additional Series A preferred units for general partnership purposes, which may include, among other things, repaying indebtedness and funding working capital, capital expenditures or acquisitions, according to the Partnership.
Morgan Stanley and BofA Merrill Lynch are acting as the joint bookrunners in connection with the offering.