WTF? Re-issued debt they had bought back? | GLNG Message Board Posts


Golar LNG Limited

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Msg  3568 of 3568  at  12/7/2023 10:30:07 AM  by

ex_hacker202


WTF? Re-issued debt they had bought back?

What the heck are they doing? They have cash to do more buybacks but they resold $30M in bonds are having gotten them off the market - why the hell didn't they retire the notes once they had them? And they have another $130M of them in the treasury!?!
 
Update on re-sale of unsecured bonds held in treasury and share buyback

Golar LNG Limited (“Golar” or the “Company”) announces that it has recently re-sold $30.5 million notional value of its senior unsecured bonds maturing 20 October 2025 (ISIN NO0011123432) which were previously held in treasury. Following the sale, Golar maintains $130.6 million notional value of unsecured bonds in treasury.  

 

The Company also provides an update on its previously announced share buyback program with total approved amount of up to $150.0 million. Since 30 September 2023, the company has bought back a total of 1,126,682 shares. Upon cancellation of these shares, the total number of outstanding shares will be reduced to 104,798,000. Of the $150.0 million approved share buyback scheme, $92.9 million remains available for further repurchases which will continue to be opportunistically pursued.

 


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