CoolCo takes two more LNG tankers from Golar

LNG carrier operator CoolCo, formed by Tor Olav Troim-led Golar LNG and Idan Ofer’s Eastern Pacific Shipping, bought two more LNG carriers from Golar.

CoolCo said in a statement on Monday that it had completed the purchase of the fifth and the sixth out of eight LNG carriers from Golar as part of the deal revealed in December last year.

The LNG carriers in question are the 2015-built, 160,000-cbm Golar Snow and the 2014-built, 162,000-cbm Golar Glacier.

According to CoolCo, the purchase price for both of the vessels was financed by a drawing under CoolCo’s senior secured bank facility and a cash payment to Golar.

The deals also include the subscription by Golar of 3.12 million new common shares of $1.00 par value in CoolCo at a subscription price of $10.00.

There are now 36,885,000 shares in issue in CoolCo, each of which represents one vote in the company.

CoolCo recently appointed Hoegh LNG’s Richard Tyrrell as its chief executive officer.

Besides Tyrrell, CoolCo also appointed Johannes (John) Boots as chief financial officer, and Sarah Choudhry as general counsel.

EPS is the largest shareholder of CoolCo with a 38 percent stake, Golar owns 31 percent in the new LNG shipping venture, while public investors hold the rest.

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