GasLog Partners LP has announced the closing of its public offering of 2 750 000 common units representing limited partner interests. The public offering price was US$19.50 per common unit. The net proceeds from the offering, after deducting underwriting discounts and other offering expenses, and including approximately US$1.09 million received from GasLog Ltd to maintain its 2% general partner interest in the partnership, were approximately US$53.23 million.
GasLog Partners said that it plans to use the net proceeds from the public offering for general partnership purposes. This may include future acquisitions, debt repayment, capital expenditures and additions to working capital. GasLog Partners said that it currently expects this to include future acquisitions from GasLog Ltd.
Barclays Capital Inc. acted as underwriter for the offering, which was made only by means of a prospectus.
GasLog Partners fleet consists of eight LNG carriers with an average carrying capacity of 148 750 m3, each of which has a multi-year time charter.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/lng-shipping/08082016/gaslog-partners-closes-public-offering-2875/