By Angela McDaniels
Tacoma, Wash., June 5 – Höegh LNG Holdings Ltd. released additional details about its $130 million of senior bonds due 2020 that were announced May 28.
The interest rate is Libor plus 500 basis points.
The notes are callable beginning in June 2018. The redemption price is 103.75 and declines to 102.5 in June 2019 and to 101 in December 2019. There is a change-of-control put option at 101.
Danske Bank Markets, DNB Markets, Nordea Markets, Pareto Securities and Swedbank Norway were the joint lead managers.
The bonds will settle June 5.
Proceeds will be used for general corporate purposes.
The company said it may issue up to $70 million of additional bonds in one or more tap issues.
Höegh LNG is a Norwegian owner and operator of floating liquefied natural gas import terminals. The holding company is based in Hamilton, Bermuda.
| Issuer: | Höegh LNG Holdings Ltd.
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| Issue: | Senior bonds
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| Amount: | $130 million
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| Maturity: | June 5, 2020
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| Coupon: | Libor plus 500 bps
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| Lead managers: | Danske Bank Markets, DNB Markets, Nordea Markets, Pareto Securities, Swedbank Norway
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| Call option: | At 103.75 beginning in June 2018; redemption price declines to 102.5 in June 2019 and to 101 in December 2019
|
| Put option: | At 101 upon a change of control
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| Announcement date: | May 28
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| Settlement date: | June 5
|
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