Golar LNG Inks Finance Lease Agreements With Chinese Consortium

Golar LNG Limited (GLNG) is gearing up to refinance its existing floating liquefaction natural gas (FLNG) vessel Gimi’s debt facility. To this end, GLNG has signed finance lease agreements with a consortium of Chinese leasing companies. The sale leaseback facility is valued at around $1.2 billion.The deal is subject to customary closing conditions, which include the completion of documentation and receipt of third-party approvals. The facility is anticipated to be completed by the end of the second quarter of 2025.  With a tenure of 12 years, the sale and leaseback facility features a 17-year amortization profile, during which quarterly repayment installments will be made throughout the lease period.On the completion and repayment of the existing debt facility, Gimi MS Corporation is anticipated to generate net proceeds of almost $530 million. This amount includes the release of existing interest rate swaps.GLNG is hopeful of gaining from 70% of these proceeds, which stands equivalent to almost $371 million.GLNG’s Zacks Rank & Stock Price PerformanceGolar LNG currently carries a Zacks Rank #3 (Hold).GLNG shares have gained 59.7% in the past year, outperforming the transportation-shipping industry it belongs to.GLNG Stock One-Year Price ComparisonImage Source: Zacks Investment ResearchOther Stocks to ConsiderInvestors interested in the Zacks Transportation sector may also consider SkyWest SKYW and Frontier Group ULCC.SkyWest currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.SKYW has an expected earnings growth rate of 16% for the current year. The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 16.7%. Shares of SKYW have risen 9.1% over the past six months.Frontier Group has a Zacks Rank of 1 at present.ULCC has an expected earnings growth rate of more than 300% for the current year.The company has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once. The average surprise is 1.1%. Shares of ULCC have surged 43% in the past six months.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SkyWest, Inc. (SKYW): Free Stock Analysis Report Golar LNG Limited (GLNG): Free Stock Analysis Report Frontier Group Holdings, Inc. (ULCC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks