Golar LNG announces successful completion of $1.2BN FLNG Gimi bank facility

Rhea-AI Summary

Golar LNG (NASDAQ:GLNG) closed and drew a new $1.2 billion asset-backed bank facility on 25 November 2025 with a consortium led by ABN AMRO, Citibank, DNB, Goldman Sachs and Standard Chartered to refinance FLNG Gimi.

The facility replaces an existing $627 million bank debt, has a 7-year tenor, 16-year amortisation profile and carries interest at SOFR + 2.50% p.a. Golar expects a 70% share of net liquidity released of approximately $400 million after repayment of prior debt and unwinding the interest-rate swap. Management said the facility improves terms versus initial Gimi financing and implies ~5.5x debt/EBITDA when operational on long-term FLNG contracts.

Positive

• Closed $1.2bn asset-backed facility
• Golar to receive ~$400m net liquidity (70% share)
• Facility has 7-year tenor reducing near-term refinancing risk

Negative

• Pro forma leverage cited at ~5.5x debt to EBITDA
• Facility interest at SOFR +2.50% p.a. increases funding cost exposure
• New facility replaces $627m outstanding debt, increasing drawn facility size

Insights

Corporate Finance Analyst

Refinancing secures long tenor debt, frees ~$400 million liquidity and lowers near‑term leverage.

Golar completed a $1.2 billion asset‑backed facility with major banks to refinance FLNG Gimi, replacing an outstanding $627 million facility. The new loan carries a 7-year tenor, a 16-year amortization schedule and interest at SOFR plus 2.50%, which formally improves funding duration and releases Golar’s 70% share of approximately $400 million after repayment and swap unwind.

The business mechanism is straightforward: longer tenor and deeper amortization lower near‑term principal pressure and extend cash‑service flexibility while the liquidity release strengthens the company’s balance sheet. Key dependencies include the assumed unwind of the existing interest‑rate swap and the company’s ability to maintain the FLNG Gimi contract cashflows that underpin the asset‑backed structure. Watch for the actual timing of the unwind, any covenants tied to the facility, and confirmations of the released cash being available on or soon after Q3 2025.

Golar LNG Limited (“Golar”) is pleased to announce that it has successfully closed and drawn a new $1.2 billion asset backed debt facility agreement with a consortium of banks including ABN AMRO, Citibank, DNB, Goldman Sachs and Standard Chartered Bank for the refinancing of FLNG Gimi. The new $1.2bn bank facility replaces an existing bank facility with an outstanding amount of $627 million as at Q3 2025.

The new debt facility has a 7-year tenor, 16-year amortization profile and will incur interest at SOFR plus a margin of 2.50% p.a. Golar’s 70% share of the net liquidity released from the bank refinancing amounts to approximately $400 million after repayment of the existing Gimi debt facility and unwinding of the existing interest-rate swap.

Golar’s CEO, Karl Fredrik Staubo commented: “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.”

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” “subject to” or the negative of these terms and similar expressions are intended to identify such forward-looking statements.

These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.

Hamilton, Bermuda
November 25, 2025

Investor Questions: +44 207 063 7900
Karl Fredrik Staubo - CEO
Eduardo Maranhão - CFO

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

FAQ

What did Golar LNG announce on November 25, 2025 about FLNG Gimi financing (GLNG)?

Golar announced closing and drawing a $1.2bn bank facility to refinance FLNG Gimi, replacing a $627m outstanding facility.

How much liquidity will Golar receive from the Gimi refinancing (GLNG)?

Golar’s 70% share of net liquidity released is approximately $400m after repaying prior debt and unwinding the swap.

What are the key terms of the new Gimi bank facility for GLNG?

The facility has a 7-year tenor, 16-year amortisation and bears interest at SOFR +2.50% p.a..

Which banks provided the $1.2bn Gimi facility for Golar LNG (GLNG)?

The consortium includes ABN AMRO, Citibank, DNB, Goldman Sachs and Standard Chartered.

What does the Gimi refinancing mean for GLNG’s leverage and credit profile?

Management cites an operational debt to EBITDA of ~5.5x, indicating elevated leverage while improving financing terms versus initial Gimi debt.