Public offering to fund LNG vessels

GasLog Partners LP announced a public offering of four 500 000 common units. The Partnership said that it intended to grant the underwriters a 30-day option to purchase up to 675 000 additional common units from the Partnership.

The Partnership plans to use the net proceeds from the public offering to fund the previously announced acquisition of 100% of the ownership interests in GAS-sixteen Ltd and GAS-seventeen Ltd, the entities that own the LNG carriers the Methane Rita Andrea and the Methane Jane Elizabeth, respectively, from GasLog Ltd., and to prepay amounts under an existing credit facility related to the vessels being acquired.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC, Barclays Capital Inc. and Evercore Group L.L.C. are acting as joint book-running managers and Deutsche Bank Securities Inc., DNB Markets, Inc., Morgan Stanley & Co. LLC and UBS Investment Bank are acting as co-managers for the offering.

Adapted from press release by Ted Monroe

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/24092014/gaslog-public-offering-to-fund-lng-vessels-1454/