HÖEGH LNG TO RAISE CAPITAL TO EXPAND WITHIN FLOATING LNG TERMINALS (FSRUs) AND PLANS LISTING ON OSLO STOCK EXCHANGE IN JUNE 2011
(Thomson Reuters ONE) -
Höegh LNG (HLNG) plans a private placement of approximately USD 200 million in
May to expand its fleet of LNG re-gasification vessels, with subsequent listing
on Oslo Stock Exchange in June.
The market for LNG is developing favourably and the demand for new LNG
production, shipping and re-gasification capacity is increasing. HLNG is looking
to develop further the company's strong position within the LNG industry. The
Company has taken a pro-active role in this attractive market through the
ordering of two new Floating Storage and Re-gasification vessels (FSRUs) and
will pursue new business opportunities within the floating LNG market. Listing
on the Oslo Stock Exchange is an important milestone in executing this strategy
through improved access to the capital markets.
A Letter of Intent (LOI) with Hyundai Heavy Industries has been secured for the
delivery of two FSRUs with option to take another two plus two vessels. The
equity raised through the private placement will be used to fund the FSRU
newbuildings in combination with debt financing arranged through a bank
syndicate.
The Chairman of the Board, Morten W. Høegh, explains:
"We are pleased to have entered into a newbuilding agreement with Hyundai Heavy
Industries for the delivery of two Floating Storage and Re-gasification Units,
with options to expand with up to another four FSRUs, at favourable terms and
delivery dates in this strong LNG market.
Listing HLNG is an important step in realizing the Group's strategy and enabling
the Company to grow and continue to develop as one of the leading providers of
integrated floating LNG services."
The President & CEO of HLNG, Sveinung Støhle, says:
"We see a very positive LNG market going forward, including a significant shift
in demand from oil to natural gas leading to a rapidly growing demand for
floating regas solutions. HLNG is a long established player with floating regas
units in operation and is in a unique position to continue its active role in
developing this favourable market segment."
HLNG has appointed DnB NOR Markets, ABG Sundal Collier and Pareto Securities as
Joint Lead Managers and Bookrunners for the upcoming transaction. Danske Bank
and Nordea Markets have been appointed as Co-Managers.
****
This publication is not for distribution, directly or indirectly, in or into the
United States, nor is it an offer for sale of or the solicitation of an offer to
purchase securities in the United States. Any securities referred to herein have
not been registered under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), and may not be offered or sold in the United States absent
registration or pursuant to an exemption from registration under the U.S.
Securities Act. Höegh LNG Holdings Ltd does not intend to register any portion
of the offering of the securities in the United States or to conduct a public
offering of the securities in the United States. Copies of this publication are
not being, and may not be, distributed or sent into the United States.
About Höegh LNG:
Höegh LNG is an integrated floating LNG service provider with almost 40 years
experience, offering long-term floating production, transportation, re-
gasification and terminal solutions for Liquefied Natural Gas (LNG). The company
operates a fleet of seven LNG carriers including two innovative Shuttle and Re-
gasification Vessels (SRVs) operating as LNG carriers and floating terminals
while delivering the natural gas to the market.
In addition the company holds a significant project development portfolio for
both floating regasification as well as floating LNG production (FLNG).
Headquartered in Oslo, Höegh LNG has established presence in Singapore, London
and Tampa. In total the company employs 350 people.
Contacts
Sveinung Støhle, President and CEO +47 9755 7402
Steffen Føreid, CFO + 47 9755 7406
Geirmund Aasbø, Vice President, Project Execution & Media Spokesman
+47 9755 7448
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Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Höegh LNG via Thomson Reuters ONE
[HUG#1512550]
Unternehmensinformation / Kurzprofil:
Datum: 04.05.2011 - 18:02 Uhr
Sprache: Deutsch
News-ID 54248
Anzahl Zeichen: 4992
contact information:
Town:
Oslo
Kategorie:
Business News
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