GasLog Partners Sells USD 53 Mn Worth of Shares to Tortoise

Gaslog vesselIllustration; Image Courtesy: LNG Carriers/ Flickr-Kees Torn under CC BY-SA 2.0 license

Owner and operator of LNG carriers GasLog Partners has agreed to sell 2,250,000 common units to funds managed by Tortoise Capital Advisors (Tortoise) for gross proceeds of USD 53.1 million.

The partnership plans to use the net proceeds from the sale 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.,” GasLog Partners informed.

The common units are being sold at a price of USD 23.60 per common unit through the partnership’s at-the-market common equity offering programme.

“I am very pleased to welcome Tortoise, a leading energy infrastructure investor, as a significant unitholder in the Partnership. This equity issuance and execution format demonstrates our access to diverse and competitive capital sources, and fulfills our expected equity requirements for growth in 2018,” Andy Orekar, Chief Executive Officer of GasLog Partners, said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

LNG2019

LNG2019 features the largest number and highest level of LNG industry leaders.

read more >

Singapore Maritime Week (SMW) 2019

very year, SMW gathers the international maritime community for a week of flagship conferences…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >