Golar LNG Partners Announces Closing of Equity Offering and Private Placement to Golar LNG Limited

By MarEx 2013-02-05 13:54:00

Golar LNG Partners LP (NASDAQ: GMLP) (the "Partnership") announced that its previously announced public offering of 3,900,000 common units representing limited partner interests (the "Offering") has closed.  Golar GP LLC, the Partnership's general partner, contributed approximately $2.6 million to the Partnership to maintain its 2.0% general partner interest in the Partnership.  The Partnership also announced today that it has closed a private placement of 416,947 common units to Golar LNG Limited ("Golar LNG") at a price of $29.74 per common unit, the same price paid by the underwriters in the Offering.

The Partnership expects to use the net proceeds from the Offering, the concurrent private placement and the general partner's contribution to maintain its 2% general partner interest to fund the cash portion of the purchase price for the previously announced acquisition of the LNG carrier, the Golar Maria (the "Golar Maria Acquisition") from Golar LNG, as well as for general partnership purposes.  If the Golar Maria Acquisition does not close, the Partnership will use such net proceeds for general partnership purposes.

Morgan Stanley and Citigroup acted as the underwriters in connection with the Offering.

The products and services herein described in this press release are not endorsed by The Maritime Executive.