GasLog completes bond issuance in Norwegian market
Monaco-based LNG shipper completed the issuance of NOK750 million (approx. US$90 million) new unsecured bonds in the Norwegian market.
Earlier in the week GasLog informed it is considering the bond issuance as it looks to refinance its existing bonds, maturing in June 2018.
According to the statement released following the issuance on Tuesday, GasLog noted the bonds will mature in May 2021 and will have a coupon of 6.9 percent over 3 month NIBOR, and the transaction is expected to settle on June 27.
Simon Crowe, GasLog CFO, speaking about the bond issuance added the company is looking to extend the maturity of half of its existing bonds and position the company for further growth as the LNG shipping markets recover.
DNB Markets, Nordea Markets and SEB acted as joint lead managers and bookrunners, and Arctic Securities as co-manager in connection with the transaction, GasLog said.