GasLog offering $250 million in senior notes

Monaco-based LNG shipper GasLog said Monday it intends to offer $250 million senior secured notes due 2024.

The company plans to use the net proceeds from the offering for repayment of debt and general corporate purposes, including working capital.

Stifel, Nicolaus & Company, Incorporated and DNB Markets, Inc. are acting as joint book-running managers and structuring agents of the offering.

GasLog’s fleet of LNG carriers consists of 22 ships on the water and 5 vessels on order. GasLog also has an additional LNG carrier which was sold to a subsidiary of Mitsui Co Ltd. and leased back under a long-term bareboat charter.