Golar LNG seeks to amend senior bonds due 2025

By Marisa Wong

Los Angeles, May 9 – Golar LNG Ltd. has instructed Nordic Trustee AS to summon a written resolution for its senior bonds maturing Oct. 20, 2025 (ISIN: NO0011123432), according to a press release.

The purpose of the written resolution is to consider a proposal for some amendments to the bond terms.

Golar LNG said the background for the proposal is the significant strengthening of its financial position since the issuance of the bonds. The company is seeking to make some amendments to the definition of permitted distribution, to increase its flexibility for potential future shareholder returns in return for a one-off financial compensation to the bondholders and implementation of an incurrence test.

The voting period will expire on May 25 at the latest, at which point the final outcome of the proposal will be decided and made public.

Hamilton, Bermuda-based Golar LNG is an owner and operator of liquid natural gas carriers.

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