GasLog Partners offering shares to fund LNG acquisition

GasLog Partners reveals a public offering of 7,500,000 common units, aimed at funding the acquisition of three LNG carriers from its parent company, GasLog. 

The Partnership intends to grant the underwriters a 30-day option to purchase up to 1,125,000 additional common units from the partnership, stands in the company’s statement.

The partnership plans to use the net proceeds from the public offering to partially prepay amounts under an existing credit facility related to the vessels being acquired and for general partnership purposes. The company earlier said it will acquire 100% of the ownership interests in entities that own the liquefied natural gas carriers the Methane Alison Victoria, the Methane Shirley Elisabeth and the Methane Heather Sally.

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

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Image: BG Group