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Gaslog Partners eyes US$97 million in latest share sale

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LNG Industry,

GasLog Partners LP has announced that it has priced its public offering of 4 million units of its 8.200% Series B Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units, liquidation preference US$25.00 per unit at a price to the public of US$25.00 per unit. The underwriters have a 30-day option to purchase up to 600 000 additional Series B Preference Units from the Partnership. The Partnership intends to file an application to list the Series B Preference Units on the New York Stock Exchange. The offering is expected to close on or about 17 January 2018.

The net proceeds from the offering after deducting underwriting discounts and commissions are expected to be approximately US$97 016 950. The Partnership plans to use the net proceeds from the public offering for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures and additions to working capital. 

Morgan Stanley, UBS Investment Bank, Stifel and Citigroup are acting as joint book-runners for the offering and Credit Suisse is acting as co-manager for the offering.

The offering is being made only by means of a prospectus. 

A registration statement relating to these securities was declared effective by the US Securities and Exchange Commission on 10 October 2017.

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