Golar LNG Limited closed and drawn a new $1.2 billion asset-backed debt facility with a consortium of banks that includes ABN AMRO, Citibank, DNB, Goldman Sachs and Standard Chartered Bank to refinance FLNG Gimi, the company said in a news release.
The new $1.2 billion facility replaces an existing bank facility with an outstanding balance of $627 million as of the third quarter of 2025.
The new debt facility carries a 7-year tenor, a 16-year amortization profile and interest at SOFR plus a 2.50% margin per year. Golar’s 70% share of the net liquidity released from the refinancing is approximately $400 million after repayment of the existing Gimi debt facility and the unwinding of an existing interest-rate swap.
Golar CEO Karl Fredrik Staubo said: “We are pleased to see strong interest from leading international banks to provide attractive financing for the FLNG Gimi. The new facility has improved terms compared to Gimi’s initial financing facility, which was put in place upon ordering of the FLNG Gimi. The new facility proves the bankability of Golar’s FLNG assets once operational on their long-term FLNG contracts at ~5.5x debt to EBITDA ratio.”
Golar LNG Limited is a publicly traded liquefied natural gas shipping and infrastructure company incorporated in Bermuda. It is engaged in owning, operating and developing LNG carriers and floating LNG solutions, including floating liquefaction units and regasification facilities.
