Golar LNG (GLNG) to Offer 5.7M Shares

November 14, 2016 4:06 PM EST

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Golar LNG Limited (NASDAQ: GLNG) announced today the commencement of a registered offering of 5,700,000 shares of its common stock. As part of this offering, the underwriters are selling 215,000 common shares to a member of the Company's board of directors. The Company expects to grant the underwriters a 30 day option to purchase up to an additional 855,000 common shares. The proceeds of the offering are expected to be used to partly fund the settlement of the Company's outstanding convertible bonds and will augment a recently received commitment from Citibank N.A. to finance the remainder of the amounts outstanding under the Company's convertible bonds through a new term loan credit facility of up to $150 million.

Citigroup is acting as sole book-running manager. Clarksons Platou Securities, Danske Markets and Evercore ISI are acting as joint lead managers in the offering.

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