Höegh LNG: Revised bond amendment terms
Hamilton, Bermuda 22 March 2021 - Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company") has today instructed Nordic Trustee AS as trustee for its senior unsecured bond issues maturing in February 2022 (ISIN NO 0010782949) (“HLNG03”) and January 2025 (ISIN NO 0010873755) (“HLNG04”) to make certain revisions to the proposed bond amendments (the “Amendment Proposal”) announced on 8 March 2021. Following discussions with bondholders, HLNG has requested certain adjustments to the Amendment Proposal. The revised proposal is set out in the attached addendum to summons.
The revised proposal has received more than 50% support from holders of each of the HLNG03 and HLNG04 bond issues.
The background for the Amendment Proposal is the announcement on 8 March 2021 regarding an offer from Leif Höegh & Co. Ltd. ("LHC") and funds managed by Morgen Stanley Infrastructure Partners to acquire the remaining shares outstanding of the Company not currently owned by LHC or its affiliates.
DNB Markets is acting as financial advisor to the Company.
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Contacts:
Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Håvard Furu, Chief Financial Officer, Telephone +47 991 23 443
Knut Johan Arnholdt, VP IR and Strategy, Telephone +47 922 59 131
About Höegh LNG:
Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG’s Vision is “Enabling the transition to Clean Energy”. The company is publicly listed on the Oslo stock exchange under the ticker: “HLNG”, and owns approximately 46% of Höegh LNG Partners LP (NYSE:”HMLP”). Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, China, Indonesia, Lithuania, Egypt, Colombia and the Philippines. The group employs approximately 190 office staff and 670 seafarers. Please see: www.hoeghlng.com