GasLog Partners LP announced that the Partnership’s vessel owning subsidiaries have signed a US$ 450.0 million credit facility to refinance the US$ 486.7 million outstanding under the Partnership’s existing three credit facilities.
The borrowers under the new facility are the Partnership’s vessel owning subsidiaries, and the lenders and arrangers are Citibank, N.A., London Branch, Nordea Bank Finland plc, London Branch, DVB Bank America N.V., ABN Amro Bank N.V., Skandinaviska Enskilda Banken AB and BNP Paribas.
Andrew Orekar, CEO of GasLog Partners, commented: “I am very pleased to have signed this financing, at what I believe are attractive rates, six months after completing our initial public offering in May. This financing simplifies the Partnership’s funding arrangements, bringing the existing loans into one single facility.”
The new facility will be payable over five years in 20 equal installments of US$ 5.6 million with a balloon payment of US$ 337.5 million payable together with the final quarterly payment.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/lng-shipping/12112014/gaslog-refinancing-credit-facilities-1776/