GasLog Partners in public offering to fund LNG duo acquisition

GasLog Partners announced a public offering of 4,500,000 common units.

The partnership intends to grant the underwriters a 30-day option to purchase up to 675,000 additional common units from the partnership, it said in a statement.

GasLog Partners plans to use the net proceeds from the public offering to fund the acquisition of 100% of the ownership interests in GAS-sixteen and GAS-seventeen, the entities that own the liquefied natural gas carriers the Methane Rita Andrea and the Methane Jane Elizabeth, from GasLog, and to prepay amounts under an existing credit facility related to the vessels being acquired.

Citigroup Global Markets, Credit Suisse Securities (USA), Wells Fargo Securities, Barclays Capital and Evercore Group are acting as joint book-running managers and Deutsche Bank Securities, DNB Markets, Morgan Stanley & Co. and UBS Investment Bank are acting as co-managers for the offering.

Press Release, September 24, 2014; Image: BG