GasLog Partners Eyes Funds for Future Acquisitions

Image Courtesy: GasLog Partners

Greece-based GasLog Partners is looking to collect up to USD 121 million through a public offering of 5 million of its 8.625% series A preference units.

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.

“We currently expect that this will include future acquisitions from GasLog Ltd., our parent,” the company informed.

The shares were priced at USD 25 per unit, the company said, adding that the underwriters have a 30-day option to purchase up to 750,000 additional series A preference units from the partnership.

GasLog Partners intends to file an application to list the Series A Preference Units on the New York Stock Exchange. The offering is expected to close on or about May 15, 2017.

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