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Debt | 9 Months Ended
--- | ---
Sep. 30, 2021
Debt Disclosure [Abstract] |
Debt | DEBT As of September 30, 2021, and December 31, 2020, our debt was as follows:
(in thousands of $) | September 30, 2021 | December 31, 2020
Gimi facility | (410,000) |  | (300,000) |
2017 Convertible Bonds | (396,074) |  | (383,739) |
Revolving Credit facility | (100,000) |  | (100,000) |
$1.125 billion facility | (60,178) |  | (65,649) |
Golar Arctic facility | (31,001) |  | (36,472) |
Subtotal (excluding lessor VIE loans) | (997,253) |  | (885,860) |
CSSC VIE loans (1) | (629,482) |  | (691,488) |
ICBCL VIE loans (1) | (319,271) |  | (434,152) |
AVIC VIE loan (1) | (114,656) |  | (104,807) |
CCBFL VIE loan (1) | (90,400) |  | (90,178) |
CMBL VIE loan (1) | (78,196) |  | (89,450) |
COSCO Shipping VIE loan (1) | (77,279) |  | (83,596) |
Total debt | (2,306,537) |  | (2,379,531) |
Less: Deferred financing costs | 24,816 |  | 28,749 |
Total debt, net of deferred financing costs | (2,281,721) |  | (2,350,782) |
At September 30, 2021, our debt, net of deferred financing costs, is broken down as follows:
| Golar debt | VIE debt (1) | Total debt
(in thousands of $) |  |  |
Current portion of long-term debt and short-term debt | (327,915) |  | (802,341) |  | (1,130,256) |
Long-term debt | (646,644) |  | (504,821) |  | (1,151,465) |
Total | (974,559) |  | (1,307,162) |  | (2,281,721) |
(1) These amounts relate to certain lessor entities (for which legal ownership resides with financial institutions) that we are required to consolidate under U.S. GAAP into our financial statements as variable interest entities (see note 10). Golar Bear facility In June 2020, we refinanced the Golar Bear facility and concurrently entered into an agreement to bareboat charter the vessel with AVIC for $110.0 million with a drawdown $100.0 million. The facility has a term of seven years and bears a fixed interest rate of 4.64%. As of September 30, 2021, we drew down the remaining $10.0 million. 2017 Convertible Bonds In February 2017, we closed a $402.5 million aggregate principal amount of 2.75% convertible senior unsecured notes (“2017 Convertible Bonds”) due in 2022. The conversion rate for the 2017 Convertible Bonds was initially equal to 26.5308 common shares per $1,000 principal amount of the bonds. This is equivalent to an initial conversion price of $37.69 per common share, or a 35% premium on the February 13, 2017 closing share price of $27.92. The conversion price is subject to adjustment for dividends paid. The holders of the 2017 Convertible Bonds can convert their notes at any time on or after August 15, 2021 using a settlement method as determined by us (either cash, issuance of our common shares, or a combination of cash and issuance of our common shares). Norwegian Bonds In October 2021, we closed the $300 million senior unsecured bond in the Nordic bond market (the “Norwegian Bonds”). The Norwegian Bonds will mature in October 2025 and bear interest at 7.00% per annum. The net proceeds from the Norwegian Bonds are to be applied towards the financing of our February 2022 maturing Convertible Bonds and for general corporate purposes. Contemporaneous with the close, we have redeemed $85.2 million of the Convertible Bonds and have subsequently reclassified the balance sheet presentation of the redeemed amount from current portion of long-term debt and short-term debt to long-term debt.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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