GasLog Partners Nets USD 111 Mn from Public Offering

Image Courtesy: Wartsila

LNG carrier owner and operator GasLog Partners LP has collected USD 111 million from its public offering which are likely to be used for future acquisitions from its parent company GasLog.

The company has ten eligible LNG carriers for dropdown at its parent.

The shipowner said that the net proceeds would also be used for debt repayment, capital expenditures and additions to working capital.

The offering of 4 million of 8.200 pct Series B cumulative redeemable perpetual fixed to floating rate preference units, priced to the public at USD 25.00 per unit, closed on January 17. The underwriters have also exercised the option to purchase all 600,000 additional units, resulting in 4.6 million units sold.

The Series B Preference Units will be listed on the New York Stock Exchange under the symbol GLOP PR B, GasLog Partners said.

The offering was made only by means of a prospectus.

GasLog Partnership’s fleet is comprised of 12 wholly-owned LNG carriers.

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