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GasLog Partners prices public offering

GasLog Partners prices public offering

By Staff Writer - August 3, 2016

Photo: GasLog
Photo: GasLog

GasLog Partners, the LNG carrier firm with its executive offices in Monaco, has priced its public offering of 2,750,000 common units at a price to the public of $19.50 per common unit. The underwriter has a 30-day option to purchase up to 412,500 additional common units from the Partnership.

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, and currently expect that this will include future acquisitions from GasLog Ltd., the parent company.

The Partnership describes itself is a growth-oriented master limited partnership focused on owning, operating and acquiring LNG carriers under long-term charters. The Partnership’s fleet consists of eight LNG carriers with an average carrying capacity of 148,750 cbm, each of which has a multi-year time charter. The Partnership’s executive offices are at Gildo Pastor Center, 7 Rue du Gabian in Monaco.

“We are a growth-oriented international owner, operator and manager of liquefied natural gas (LNG) carriers, providing support to international energy companies as part of their LNG logistics chain.”

Barclays Capital Inc is acting as underwriter for the offering, which is being made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: (888) 603-5847.

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