GasLog Partners rakes in $77 million through public offering

GasLog Partners rakes in $77 million through public offering
Image courtesy of GasLog

GasLog Partners, a limited partnership set up by the Monaco-based LNG shipper GasLog, earned US$77.06 million through the offering of 3,750,000 common units. 

The company said in its statement on Friday that the units were priced at $20.5, adding that it plans to use the net proceeds for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures and additions to working capital.

The Partnership expects the net proceeds will also be used for future acquisitions from GasLog.

GasLog Partners’ fleet consists of nine LNG carriers with an average carrying capacity of approximately 149,500-cbm, each of which has a multi-year time charter.

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