Golar LNG Partners, the long-term contract-based LNG carrier company, said it is considering issuing senior unsecured dollar denominated bonds in an increasingly lively Norwegian bond market.
“The bonds will be denominated in US dollars and mature in May 2020,” the company said in a statement. The proceeds would be used to repay debt and for general corporate purposes. Danske Bank Markets, DNB Markets, Nordea Markets, and Pareto Securities are acting as joint book runners for the bond issuance. DVB Capital Markets and Fearnley Securities are acting as co-managers.
Norway’s other recent shipping company bond issues have been denominated in the krone.
Last week Teekay LNG Partners, the LNG carrier unit in the Bahamas-based Teekay group, raised NOK1.0 billion (USD130 billion) through an issue of unsecured five-year bonds. The company swapped the funds into dollars at a fixed rate of interest of 5.92%.
Exmar, the listed Belgian gas carrier owner, raised NOK300 million with a second-tranche issue of the notes last month. The first tranche of NOK700 million was launched in July last year, and the company has now reached the NOK1.0 billion ceiling of the issue.
In March Stolt-Nielsen, the London-based chemical carrier group listed in Oslo, raised NOK 1.10 billion on the market, and last month Ocean Yield, the Oslo-listed tonnage provider, followed suit with a NOK1 billion issue.