GLOP Closes IPO with $186 Mln Raised

GasLog Partners LP (GLOP) today announced the closing of its IPO of 9.66m common units, including 1.26m common units issued upon the underwriters’ option.

The public offering price was $21.00 per common unit. The net proceeds from the offering, after deducting underwriting discounts and other offering expenses, were approximately $186 million. The proceeds from the offering were used principally to reduce indebtedness and for general partnership purposes, with the remainder distributed to GasLog Ltd.

GasLog owns 162,358 common units, as well as all of the MLP’s subordinated units, general partner interest and incentive distribution rights.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC, Barclays Capital Inc., Evercore Group L.L.C. and UBS Securities LLC acted as joint book-running managers and Deutsche Bank Securities Inc. and DNB Markets, Inc. acted as co-managers for the offering.

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May 13, 2014