<SEC-DOCUMENT>0001171843-23-004233.txt : 20230628
<SEC-HEADER>0001171843-23-004233.hdr.sgml : 20230628
<ACCEPTANCE-DATETIME>20230628170117
ACCESSION NUMBER:		0001171843-23-004233
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230628
FILED AS OF DATE:		20230628
DATE AS OF CHANGE:		20230628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cool Co Ltd.
		CENTRAL INDEX KEY:			0001944057
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41625
		FILM NUMBER:		231053032

	BUSINESS ADDRESS:	
		STREET 1:		2ND FLOOR, S.E. PEARMAN BUILDING
		STREET 2:		9 PAR-LA-VILLE ROAD
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM11
		BUSINESS PHONE:		441-295-4705

	MAIL ADDRESS:	
		STREET 1:		2ND FLOOR, S.E. PEARMAN BUILDING
		STREET 2:		9 PAR-LA-VILLE ROAD
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM11
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_062823.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<html><head><title></title></head><body style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><div align="center"><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;">&#160;</div></div><p style="font-size: 14pt;" align="center"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong></p><p style="font-size: 14pt; text-transform: uppercase;" align="center"><strong>Form 6-K</strong></p><p style="text-align: center;"><strong></strong></p><p style="text-align: center;"><strong>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</strong></p><p style="text-align: center;"><strong></strong><strong>For the month of June 2023</strong></p><p style="text-align: center;">Commission File Number: <strong>001-41625</strong></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Cool Company Ltd.</strong></font><br />(Translation of registrant's name into English)</p><p style="text-align: center;"><strong>2nd floor, S.E. Pearman Building<br />9 Par-la-Ville Road<br />Hamilton HM11<br />Bermuda</strong><br />(Address of principal executive office)</p></div><p>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.<br />Form 20-F [&#160;X ] &#160;&#160;&#160;&#160;&#160;Form 40-F [&#160;&#160; ]</p><p>&#160;</p><p>&#160;</p><!--<p>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): <u>&#160;&#160;&#160;&#160;&#160;&#160;</u></p><p><strong>Note:&#160;</strong>Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.</p><p>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <u>&#160;&#160;&#160;&#160;&#160;&#160;</u></p><p><strong>Note:&#160;</strong>Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.&#160;</p>--><hr style="page-break-after: always;" noshade="noshade" /><p>
 <p>On June 28, 2023, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. <br /><br /><font><a href="exh_991.htm" rel="nofollow">(c) Exhibit 99.1. Press release dated June 28, 2023</a></font></p> </p><p /><hr style="page-break-after: always;" noshade="noshade" /><p style="text-align: center;"><strong>SIGNATURES</strong></p><p>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</p><table style="font-family: Times New Roman; font-size: 10pt;" border="0" width="100%" cellspacing="0" cellpadding="0"><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td style="text-decoration: underline;" align="center" width="47%"><strong>&#160;&#160;&#160;&#160;Cool Company Ltd.&#160;&#160;&#160;&#160;</strong></td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">(Registrant)</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">&#160;</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%"></td></tr><tr valign="top"><td width="47%">Date: June 28, 2023</td><td width="6%">&#160;</td><td style="text-decoration: underline;" align="center" width="47%">&#160;&#160;&#160;&#160;/s/ Richard Tyrrell&#160;&#160;&#160;&#160;</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">Richard Tyrrell</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">Chief Executive Officer</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%"></td></tr></table></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" ><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" ></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><strong>CoolCo Announces Expansion of Bank Facility to Fund Recently Announced LNGe Conversion Upgrades</strong></p><p style="text-align: center;" ></p><p>
        <p align="justify"><em>Increased debt capacity by $70 million and reduced margin of existing bank facility maturing in February 2027</em></p>    <p align="justify"><em>Incremental funds to finance previously announced LNGe conversion of five LNG carriers, including retrofitting with sub-coolers for LNG boil-off reliquefaction</em></p>    <p align="justify"><strong>Cool Company Limited (NYSE: CLCO / CLCO.OL &#8220;CoolCo&#8221; or the &#8220;Company&#8221;) </strong>announces today that a syndicate of existing lenders in one of its bank facilities (the &#8220;Senior Secured Sustainability Linked Amortizing Term Loan&#8221; or &#8220;Facility&#8221;) has approved an increase in the debt amount of $70 million and has also agreed to reduce the Facility&#8217;s interest rate margin from 275 basis points to 225 basis points. The additional funding is expected to be drawn on June 30, 2023. The Facility&#8217;s underlying SOFR exposure is fully hedged, and the Facility&#8217;s scheduled amortization will be adjusted proportionally for the increased size. The additional debt funding under this Facility will fund the LNGe conversion of five vessels, including retrofits with sub-coolers for LNG boil-off reliquefaction under the recently announced contract with HD Hyundai Global Service.</p>    <p align="justify"><strong>John Boots, CFO, commented:</strong></p>    <p align="justify"><em>As we take decisive steps forward in our efforts to reduce the emissions profile and improve the overall competitiveness of our fleet of modern LNG carriers, this amendment stands as a testament to the confidence in our mission by our banking partners, for which we are very thankful. The improved terms of the Facility speak to our strong financial position, a source of true competitive advantage under current credit conditions. The upgrades that make up the LNGe conversion process put our TFDE vessels firmly into the top tier of all TFDEs in the market, with boil-off rates that make these upgraded vessels extremely competitive with 2-stroke vessels, further improving CoolCo&#8217;s ability to take advantage of the strong demand for high-quality, modern LNG carriers.</em></p>      <p align="justify"><strong>About CoolCo</strong></p>    <p align="justify">CoolCo is a growth-oriented owner, operator and manager of fuel-efficient liquefied natural gas (&#8220;LNG&#8221;) carriers. Using its integrated, in-house vessel management platform, CoolCo provides charterers and third-party LNG vessel owners with modern and flexible management and transportation solutions, delivering a lesser-emitting form of energy that supports decarbonization efforts, economic growth, energy security, and improvements in quality of life. CoolCo intends to leverage its industry relationships to make further accretive acquisitions of in-service LNGCs, and to selectively pursue newbuild opportunities.</p>    <p align="justify"><strong>For further information, please contact: </strong></p>    <p align="justify">ir@coolcoltd.com </p>      <p align="justify"><strong>Forward-looking Statements </strong></p>    <p align="justify">This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to the retrofitting of the vessels with equipment and any subsequent improvements in performance, reductions in emissions, the LNG carrier market, and other non-historical statements.&#160; Forward-looking statements are typically identified by words or phrases, such as &#8220;about&#8221;, &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;goal,&#8221; &#8220;target,&#8221; &#8220;strategy,&#8221; and similar expressions or future or conditional verbs such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;would,&#8221; and &#8220;could.&#8221; These statements are based on current expectations, estimates, assumptions and projections and you should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve risks and uncertainties. These risks and uncertainties include risks relating to this contract, future industry conditions and other risks indicated in the risk factors included in CoolCo&#8217;s Annual Report on Form 20-F for the year ended December 31, 2022 and other filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. </p>    <p align="justify">This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities Trading Act. </p>      <p align="justify">Cool Company Ltd. </p>    <p align="justify">Hamilton, Bermuda</p>    <p align="justify">Questions should be directed to: </p>    <p align="justify">c/o Cool Company Management Ltd - +44 207 659 1111 / ir@coolcoltd.com</p>    <p align="justify">Richard Tyrrell - Chief Executive Officer</p>    <p align="justify">John Boots - Chief Financial Officer</p>    <p>&#160;</p> </p><p ></p></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
