Golar LNG Partners LP: Revised Summons for Bondholder's Meeting
April 17 2020 - 4:50PM
Golar LNG Partners LP (“Golar Partners” or “the
Partnership”) has, today, instructed the Nordic Trustee to cancel
the bondholders’ meeting scheduled for 21 April, 2020 for the
Partnerships Senior Unsecured Bond Issues maturing May 2020
(GOLP02, ISIN NO 001 07 36481) and May 2021 (GOLP03, ISIN NO 001
0736481) (the “Bond Issues”). The purpose of that meeting was
to consider the Amendment Proposal as set out in the attachment to
the press release dated April 1, 2020. Simultaneously the Nordic
Trustee has been instructed by the Partnership to summon a new
bondholders’ meeting for the above Bond Issues for 5 May
2020.
The purpose of the meeting is to consider a
revised proposal for certain amendments to the terms of the Bond
Issues, all of which are referred in the attached copy of the new
summons (the “Amendment Proposal”). The changes to the proposal
have been made following feedback from Bondholders and primarily
reflect a change in the split of the amortisations between the
GOLP02 and the GOLP03 Bonds in the period up to the interest
payment dates in May 2021. These amortisations will now be split on
an equal amount basis instead of the pro-rata split for the same
period in the proposal announced on April 1, 2020.
The revised Amendment Proposal attached has
currently received support of investors holding approximately 71%
of the outstanding GOLP02 bonds and approximately 62% of the
outstanding GOLP03 bonds. A two thirds majority is required at the
meeting to approve the Amendment Proposal.
DNB Markets, Nordea, Danske Bank and SEB have
been retained as advisors to the Partnership.
FORWARD LOOKING STATEMENTS
This press release contains certain
forward-looking statements concerning future events and the
Partnership’s operations, performance and financial condition.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate or imply future
results, performance or achievements, and may contain the words
“believe”, “anticipate”, “expect”, “estimate”, “project”, “will
be”, “will continue”, “will likely result”, “plan”, “intend” or
words or phrases of similar meanings. Such statements are generally
not historical in nature and specifically include statements about
the Partnership’s plans, strategies, business prospects and changes
and trends in the business in which it operates. In particular,
statements regarding the Partnership’s cash distributions and
common unit repurchase plan are considered forward looking
statements. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates that are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the Partnership’s control. Actual results
may differ materially from those expressed or implied by such
forward-looking statements. New factors emerge from time to time,
and it is not possible for the Partnership to predict all of these
factors. Further, the Partnership cannot assess the impact of each
such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially
different from those contained in any forward-looking statement.
The Partnership does not intend to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Partnership’s expectations with respect
thereto or any change in events, conditions or circumstances on
which any such statement is based.
Golar LNG Partners LPHamilton, BermudaApril 17,
2020Questions should be directed to:c/o Golar Management Ltd - +44
207 063 7900Graham RobjohnsStuart Buchanan
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
- Summons GOLP02 and GOLP03 17 April 2020
- GMLP Presentation to bondholders 17 April 2020
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