Golar LNG Limited (Golar) has announced that it has entered into finance lease agreements with a consortium of leading Chinese leasing companies for the refinancing of the existing FLNG Gimi debt facility.
The company informs that the sale leaseback facility will be approximately $1.2 billion, but with the transaction being subject to closing conditions including documentation and third-party approvals so the facility is expected to close within Q2 2025.
The contemplated sale and leaseback facility will have a tenor of 12 years and a 17-year amortization profile, with quarterly repayment instalments throughout the lease period.
Upon closing and repayment of the existing debt facility, Gimi MS Corporation is expected to generate net proceeds of approximately USD 530 million, and this amount includes the release of existing interest rate swaps.
Golar mentions that it will benefit from 70% of these proceeds, equivalent to approximately USD 371 million.
