GasLog Partners announced the closing of its initial public offering of 9,660,000 common units representing limited partner interests, 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.
GasLog Partners is a master limited partnership formed by GasLog to own, operate and acquire LNG carriers with multi-year charters. The initial fleet of GasLog Partners consists of three LNG carriers, each of which has a carrying capacity of 155,000 cbm and a multi-year charter.