Golar LNG Partners L.P. Announces Pricing of Series A Preferred Unit Offering
October 24 2017 - 5:01PM
Golar LNG Partners LP (NASDAQ: GMLP) (the
"Partnership") announced today that it has priced its public
offering of 4,800,000 of its 8.75% Series A Cumulative Redeemable
Preferred Units ("Series A Preferred Units"), representing
limited partner interests, at $25.00 per unit. Distributions
will be payable on the Series A Preferred Units at a rate of 8.75%
per annum of the stated liquidation preference of $25.00. The
offering is expected to close on October 31, 2017. The
Partnership has granted the underwriters a 30-day option to
purchase up to an additional 720,000 Series A Preferred Units.
The Partnership intends to use the net proceeds
from the offering and any exercise of the underwriters' option to
purchase additional Series A Preferred Units for general
partnership purposes, which may include, among other things,
repaying indebtedness and funding working capital, capital
expenditures or acquisitions.
Morgan Stanley and BofA Merrill Lynch are acting
as the joint bookrunners in connection with the offering.
When available, copies of the prospectus
supplement and accompanying base prospectus relating to the
offering may be obtained free of charge on the Securities and
Exchange Commission's website at http://www.sec.gov or from the
joint bookrunners as follows: Morgan Stanley & Co. LLC, 180
Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus
Department; or Merrill Lynch, Pierce, Fenner & Smith
Incorporated, 200 North College Street NC1-004-03-43, Charlotte,
NC 28255-0001, Attn: Prospectus Department, by calling
1-800-294-1322 or by emailing dg.prospectus_requests@baml.com.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. The Series A
Preferred Units are being offered and sold pursuant to an effective
registration statement on Form F-3, which was filed with the
Securities and Exchange Commission ("SEC") on October 26,
2016. This offering may be made only by means of a preliminary
prospectus supplement, final prospectus supplement and accompanying
base prospectus, which will be filed with the SEC.
The statements in this press release that are
not historical facts may be forward-looking statements. These
forward-looking statements involve risks and uncertainties that
could cause the outcome to be materially different. These risks and
uncertainties include, but are not limited to, those discussed in
the Partnership's public filings with the SEC. The
Partnership undertakes no obligation to revise or update any
forward looking statements, unless required to do so under the
securities laws.
Hamilton, Bermuda
October 24, 2017
Investor relations enquiries:
Golar Management Limited
Graham Robjohns - + 44 207 063 7900
Stuart Buchanan - + 44 207 063 7900
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