GasLog Partners informed it closed its public offering of 7,500,000 common units at a price of $23.90 per common unit.
The company said in a statement that the net proceeds from the offering were at approximately $175.78 million, $3.66 million received from GasLog to maintain its 2.0% general partner interest in the partnership.
The partnership will use the net proceeds from the offering to fund the previously revealed acquisition of LNG carriers the Methane Alison Victoria, the Methane Shirley Elisabeth and the Methane Heather Sally, respectively, from GasLog and to prepay amounts under an existing credit facility related to the vessels being acquired, GasLog Partners said.
The acquisition is expected to close in early July following the return from drydocking of the Methane Alison Victoria.
Citigroup Global Markets, Barclays Capital, Morgan Stanley & Co., Evercore Group, UBS Securities, Wells Fargo Securities, Credit Suisse Securities (USA) and Deutsche Bank Securities acted as joint book-running managers and ABN AMRO Securities (USA) acted as co-manager for the offering.
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