OSLO, NORWAY: Cool Company Ltd. introduced that the primary of its eight acquisitions of modern LNG tankers from Golar LNG Limited was accomplished on three March, 2022.
The vessel acquisitions were introduced on 15 December 2021, cfr. Golar’s press launch of such date. Final phrases for the acquisition were agreed and documented between the events on 26 January 2022.
Funds required to finance the acquisition were raised by CoolCo by way of the conclusion of a USD 570 million senior secured financial institution facility and the elevating of USD 275 million in gross proceeds in a private placement of new shares introduced on 28 January 2022.
The first completion covered all of the shares in Golar’s subsidiary, Golar Hull M2022 Corp., which is the proprietor of the LNG tanker “Golar Crystal” and closed Thursday.
The buy price was financed by a drawing under CoolCo’s senior secured financial institution facility, a money payment to Golar and the subscription by Golar of 1,562,500 new common shares of USD 1.00 par worth in CoolCo at a subscription price of USD 10.00. These shares were issued today.
After the issuance of those shares there are now 29,072,500 shares in issue in CoolCo. The transfers of title to the shares within the remaining seven vessel subsidiaries of Golar which CoolCo has agreed to buy are scheduled to be accomplished within the short term.
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