Golar LNG looks to sell shares and lower debt

Golar LNG is selling shares with an eye toward paying off its debt.

The New York-listed company said after the close on Wednesday that it was looking to sell 11m shares through an underwritten public offering.

"The company intends to use the net proceeds from the offering to partially repay the term loan facility, to repay the margin loan facility in full and to use any remaining funds for general corporate purposes," the company said.