Golar LNG unveils $500 mln convertible bond deal, shares rise

Shares of Golar LNG GLNG.O up 1.4% to $41.67 post-market as it seeks capital raise

Liquefied natural gas infrastructure firm announces private offering of $500 mln 5.5-yr convertible bonds

Certain co insiders have indicated interest to purchase common shares from investors in the offering, and certain entities controlled by co's directors indicated interest to buy bonds in the offering

Co says plans to use net offering proceeds for general purposes, including for future growth investments including a contemplated fourth FLNG (floating liquefied natural gas) vessel, among other purposes

It also intends to buy back up to 2.5 mln common shares in connection with the offering

GLNG has ~$4.4 bln market cap, per LSEG data

Stock on Weds closed down 1% at $41.09, off ~3% YTD

All 6 analysts are bullish on GLNG and median PT is $50 - LSEG