GasLog Partners has decided to put up 4 million of its Series B Preference Units for sale at a price of $25 per unit to the public.
The pricing follows the company’s decision to offer the Series B Preference Unit for sale in order to secure funds for future acquisitions from its parent company GasLog.
The net proceeds from the offering after deducting underwriting discounts and commissions are expected to be approximately $97,016,950.
The partnership 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. GasLog Partners currently expect that this will include future acquisitions from GasLog.
The underwriters have a 30-day option to purchase up to 600,000 additional Series B Preference Units from the partnership.
The offering is expected to close on or about January 17, 2018.