Owner and operator of LNG carriers GasLog Partners is expecting to raise up to USD 97 million by selling shares to finance future fleet expansion.
The company has priced its public offering of 4 million units of 8.200% Series B cumulative redeemable perpetual fixed to floating rate preference units at a price to the public of USD 25.00 per unit.
Net proceeds from the public offering would be used for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures and additions to working capital. GasLog Partners said that it currently expects the financing to cover future acquisitions from its parent, GasLog Ltd.
The underwriters have a 30-day option to purchase up to 600,000 additional units. The partnership intends to file an application to list the units on the New York Stock Exchange. GasLog Partners expects the offering to close on or about January 17, 2018.
Sea News, January 10