GasLog Partners announced the commencement of an initial public offering of 8,400,000 common units representing limited partnership interests.
The estimated price range for the initial public offering is $19.00 to $21.00 per common unit. The proceeds from the offering will be used principally to reduce indebtedness and for general partnership purposes, with the remainder to be distributed to GasLog Ltd.
The MLP is a Marshall Islands limited partnership and is currently a wholly owned subsidiary of GasLog. GasLog will contribute three of its existing LNG carriers with multi-year charters to the MLP.