GasLog Prices Public Offering

LNG shipping company GasLog said that it has priced an add-on offering of NOK 500 million (equivalent to approximately US$ 84 million) aggregate principal to the existing senior unsecured notes due 2018.

All interest and principal payments have been swapped into USD at all in fixed interest rate of 5.99%. The offering was significantly oversubscribed. The transaction is subject to customary closing conditions and settlement is expected to occur on 2 May 2014.

The proceeds from the offering will be used for general corporate purposes, including financing for GasLog’s newbuilding program.

Press Release, April 25, 2014; Image: GasLog

 

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