Golar LNG preserves ‘relatively conservative’ leverage ratio under 4x

By Devika Patel

Knoxville, Tenn., Aug. 30 – Golar LNG Partners LP has kept a “relatively conservative” leverage ratio, maintaining its multiple of net debt to EBITDA below 4x.

“We’ve maintained a relatively conservative leverage ratio of less than 4x net debt to EBITDA,” chief executive officer Graham Robjohns said on the company’s third quarter earnings conference call conference call on Wednesday.

As of the end of the quarter, the figure was 2.5x.

Total net debt was $1,139,300,000 as of June 30.

Outstanding bank debt as of June 30 was $1,037,700,000.

As of June 30, the company had cash and cash equivalents of $301.5 million, compared to $166.9 million at the end of the first quarter, and undrawn revolving credit facility availability of $25 million.

Hamilton, Bermuda-based Golar LNG is an owner and operator of liquid natural gas carriers.

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