The new senior secured facility is backed by Golar’s MKII FLNG asset, which is being converted in China for a 20-year contract with Southern Energy S.A. in Argentina.
Golar LNG Limited said it has closed a new $600 million senior secured Revolving Credit Facility, a financing package designed to improve balance sheet flexibility and support further FLNG (floating liquefied natural gas production vessel) growth. The facility is secured by Golar’s investment in the MKII FLNG, which is currently under conversion in China and is slated to serve a 20-year contract with Southern Energy S.A. in Argentina. Golar said the deal drew support from a bank consortium that includes ABN AMRO, Citibank, Danske Bank and Standard Chartered Bank. The company also said the release contains forward-looking statements that reflect management’s current expectations and are subject to risks and uncertainties, meaning actual results could differ materially.