GasLog Partners rakes in $111 mln for LNG acquisitions

GasLog Partners rakes in $111 mln for LNG acquisitions
Image courtesy of GasLog Partners

GasLog Partners, the New York-listed spinoff of LNG shipper GasLog raked in approximately $111 million through a public offering that closed on Wednesday. 

At the closing, the company said it sold 4,600,000 series B preference units at a price of $25 per unit.

This included the exercise in full by the underwriters of their option to purchase additional series B preference units.

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 the expenditures will include future acquisitions from its parent company GasLog.

The partnership’s fleet consists of twelve LNG carriers with an average carrying capacity of approximately 154,000 cbm.

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