Höegh LNG – Cancellation of bonds and exercise of call option

Hamilton, Bermuda 3 February 2020 – Höegh LNG Holdings Ltd. (“Höegh LNG”, the “Issuer”) today cancelled the company’s total holding (USD 34,600,000) of the bond Höegh LNG Holdings Ltd. 15/20 FRN USD C with ISIN NO0010739683. The new outstanding amount after the cancellation will be USD 95,400,000.

Nordic Trustee AS (the "Bond Trustee") acts as bond trustee for the Bondholders in the above-mentioned bond issue (the "Bond Issue") where Höegh LNG Holdings Ltd. is issuer. All capitalized terms used herein shall have the meaning assigned to them in the bond agreement originally dated 3 June 2015 (the "Bond Agreement").

The Issuer has in a letter to the Bond Trustee on 3 February 2020 notified that the Issuer will exercise the call option to redeem USD 30,400,000, equal to 31.9%, of the outstanding bonds of the Bond Issue in accordance with clause 10.2.1 (Call Option) of the Bond Agreement.

The payment will be carried out as follows:

Redemption amount: USD 30,400,000

Redemption price: 101% of par value plus accrued and unpaid interest

Record Date: 16 March 2020

Settlement Date: 18 March 2020

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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 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, China, Indonesia, Lithuania, Egypt, Colombia and the Philippines. The group employs approximately 175 office staff and 600 seafarers.