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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Barge Operator Fined for Releasing Dangerous Gas

The operator of a Portsmouth-based barge has today been made to pay almost £111,000 in fines and costs after pleading guilty to a breach of maritime legislation.

Charterers Remain Optimistic Despite Small Downturn

Overall confidence levels in the shipping industry fell slightly during the three months to August 2014, according to the latest Shipping Confidence Survey from

Insights: New York Canal Director Brian Stratton

Brian U. Stratton was appointed Director of the New York State Canal Corporation in April 2011, to oversee the operation and development of New York’s 524-mile Canal System,

Energy

Last Call to Register for SHIPPINGInsight

Maritime industry conference and exhibition opens next week in Stamford, Conn. There’s still time to register online for SHIPPINGInsight 2014, the North American

Suncor Sends First Tanker of Western Canada Heavy Crude to Europe

Canada's largest oil and gas producer, Suncor Energy Inc, is shipping its first ever tanker of Western Canadian heavy crude from Canada's East Coast to Europe, a company spokeswoman said on Tuesday.

Pivotal to Deliver LNG to Carib for use in Puerto Rico

Pivotal LNG, Inc., a subsidiary of AGL Resources, announced this week a long-term agreement to sell liquefied natural gas (LNG) to Crowley Maritime Corp. subsidiary Carib Energy LLC (Carib).

LNG

Last Call to Register for SHIPPINGInsight

Maritime industry conference and exhibition opens next week in Stamford, Conn. There’s still time to register online for SHIPPINGInsight 2014, the North American

Pivotal to Deliver LNG to Carib for use in Puerto Rico

Pivotal LNG, Inc., a subsidiary of AGL Resources, announced this week a long-term agreement to sell liquefied natural gas (LNG) to Crowley Maritime Corp. subsidiary Carib Energy LLC (Carib).

Sir Frank Chapman Appointed Golar's Chairman

Golar LNG Limited announced that with effect from September 19, 2014, Sir Frank Joseph Chapman has been appointed to the Board of Directors of the Company and will act as the Company's Chairman.

News

Coast Guard Foundation to Honor Longtime Supporter

National Tribute Set for Thursday, October 9, 2014 The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families,

Suncor Sends First Tanker of Western Canada Heavy Crude to Europe

Canada's largest oil and gas producer, Suncor Energy Inc, is shipping its first ever tanker of Western Canadian heavy crude from Canada's East Coast to Europe, a company spokeswoman said on Tuesday.

Pivotal to Deliver LNG to Carib for use in Puerto Rico

Pivotal LNG, Inc., a subsidiary of AGL Resources, announced this week a long-term agreement to sell liquefied natural gas (LNG) to Crowley Maritime Corp. subsidiary Carib Energy LLC (Carib).

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1962 sec (5 req/sec)