GasLog Partners Announce Closing of its IPO

Posted by Joseph R. Fonseca
Monday, May 12, 2014
GasLog

 

GasLog Partners LP, an international owner, operator and manager of LNG carriers, today announced the closing of its initial public offering of 9,660,000 common units representing limited partner interests (the “common units”), including 1,260,000 common units issued upon the exercise in full by the underwriters of their option to purchase additional units. The public offering price was $21.00 per common unit. The net proceeds from the offering, after deducting underwriting discounts and other offering expenses, were approximately $186 million. The proceeds from the offering were used principally to reduce indebtedness and for general partnership purposes, with the remainder distributed to GasLog Ltd. (“GasLog”) (NYSE:GLOG).

GasLog owns 162,358 common units, as well as all of the MLP’s subordinated units, general partner interest and incentive distribution rights.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC, Barclays Capital Inc., Evercore Group L.L.C. and UBS Securities LLC acted as joint book-running managers and Deutsche Bank Securities Inc. and DNB Markets, Inc. acted as co-managers for the offering.

The offering was made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (tel: (800) 831-9146); Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, by telephone: 800-221 -1037; and Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, by telephone: 800-326-5897.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on May 6, 2014. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

GasLog

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Nigeria's Tanker Ban Underscores Local Industry Disarray

The Nigerian president's sudden, unexpected and seemingly unilateral decision to ban nearly 100 oil tankers from the country's waters has sown confusion in the

Australia's Massive Shipbuilding Plan Announced

The Australian Government has thrown domestic shipbuilders an A$89 billion (US$ 66 billion) lifeline. It plans to deliver a long-term plan for a strong and sustainable naval shipbuilding industry.

Matson Declares 2Q EPS Of $0.23

Matson, Inc., a leading U.S. carrier in the Pacific, today reported net income of $9.9 million, or $0.23 per diluted share for the quarter ended June 30, 2015.

Energy

Nigeria's Tanker Ban Underscores Local Industry Disarray

The Nigerian president's sudden, unexpected and seemingly unilateral decision to ban nearly 100 oil tankers from the country's waters has sown confusion in the

AEG to Power Seabourn’s Cruise Vessel

AEG Power Solutions, a global provider of power electronic systems and solutions for industrial power supplies and renewable energy applications, informed that Fincantieri S.

LOC Opens Paris Office

LOC, a leading global marine and engineering consultancy for the shipping and offshore energy industry announces the expansion of its European operations with

LNG

Totem Inks LNG Conversion Deal with Keppel

Totem Ocean Trailer Express announced that it has signed a contract with Keppel Offshore & Marine Ltd, wholly owned subsidiary Keppel Shipyard Ltd for the conversion

S.Africa Considering Ship-Based Power Generation

South Africa could deploy power barges using gas to generate electricity to help overcome chronic supply shortages, a senior government official said on Tuesday.

Egypt Gets FSRU from BW Gas

Norway-based BW Gas will provide Egypt with a liquefied natural gas (LNG) floating import terminal under a five-year contract.   This comes as as the North African

News

China: South China Sea Reclaimation Work Halted

China has halted reclamation work in the South China Sea, the country's foreign minister said on Wednesday, at a meeting of Southeast Asian foreign ministers where

Nigeria's Tanker Ban Underscores Local Industry Disarray

The Nigerian president's sudden, unexpected and seemingly unilateral decision to ban nearly 100 oil tankers from the country's waters has sown confusion in the

Adverse Weather Warning to Chilean Ports

Inchcape Shipping Services (ISS) is advising that Chile’s Port Authority has issued a warning of adverse weather conditions and strong swells affecting the Chilean coast over the next two days,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2237 sec (4 req/sec)