Golar prices $500 million bond offering at 7.5%

Golar LNG ($GLNG) priced $500 million of senior unsecured notes due in 2031 with a 7.5% annual coupon. The securities are being issued at 99% of their face value, so the issue price is below par. Settlement is scheduled for October 8, subject to the customary conditions for completing the transaction.

The announcement fixes the coupon, issue price and maturity following the financing process. It should not be read as confirmation that Golar has already received the proceeds. The $500 million figure is the notes’ principal amount, not the net cash remaining after the issue discount and transaction expenses. The short pricing notice does not quantify a new operating investment or project-level earnings contribution.

Sources:

• Golar LNG — senior-note pricing, GlobeNewswire release