Höegh LNG : Fixed income investor meetings
Hamilton, Bermuda 14 January 2020 - Höegh LNG Holdings Ltd. ("Höegh LNG") has mandated Danske Bank, DNB Markets, Nordea, Swedbank and ABN AMRO to arrange a series of fixed income investor meetings commencing today. Subject to inter alia market conditions, a NOK denominated 5-year senior unsecured bond issue may follow.
In conjunction with the potential bond issue, the company may consider a conditional buyback of HLNG02 (ISIN: NO0010739683) maturing 5 June 2020. Subject to a successful issuance of new bonds, the company plans to exercise the call option in whole or in parts to repay HLNG02 bonds at the prevailing call price (101.00% of par value). The proceeds from the potential bond issue will be used for refinancing of existing debt and general corporate purposes.
Reference is made to the stock exchange notice earlier this morning where Höegh LNG reported it has received confirmation of final credit approval for an up to USD 80 million revolving credit facility. The facility will be secured by the company’s common units in Höegh LNG Partners LP and will be used to refinance part of the HLNG02 bond loan and general corporate purposes.
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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 to be the industry leader of floating LNG solutions. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. 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, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The group employs approximately 155 office staff and 545 seafarers.