GasLog Partners secures $53.2 million in public offering
New York-listed GasLog Partners, the master limited partnership focused on owning, operating and acquiring LNG carriers, said it has secured $53.23 million from its public offering of 2,750,000 common units.
The public offering price was $19.50 per common unit.
“The net proceeds from the offering, after deducting underwriting discounts and other offering expenses, and including approximately $1.09 million received from GasLog Ltd. to maintain its 2% general partner interest in the Partnership, were approximately $53.23 million,” the MLP said in its statement.
Barclays Capital Inc. acted as underwriter for the offering.
GasLog Partners plans to use the net proceeds from the public offering for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures and additions to working capital.
The MLP said it currently expects that this will include future acquisitions from its parent, GasLog Ltd.
GasLog Partners fleet currently consists of eight LNG carriers with an average carrying capacity of 148,750 cbm, each of which has a multi-year time charter, according to its website.