Gaslog Completes Public Offering Of 8.875% Senior Notes, Due 2024 For US$250 Million

Published: Mar 13 2017
Deal Summary

GasLog Ltd., an owner, operator and manager of liquefied natural gas carriers, completed the public offering of 8.875% senior notes, due March 22, 2022, for gross proceeds of US$250 million (MM). The company received net proceeds of approximately US$245.28 MM, after underwriting discount and estimated offering expenses. The notes were priced at 100% of principal amount. Interest on the notes is payable quarterly in arrears on March 30, June 30, September 30 and December 30, commencing on June 30, 2017. Of the total offering, Blenheim Holdings Ltd. purchased US$9.75 MM worth notes.

DNB Markets, Inc. and Stifel, Nicolaus & Company, Incorporated acted as joint book-running managers, while Arctic Securities LLC, DVB Capital Markets LLC, and Pareto Securities Inc. acted as underwriters to the company for the offering. Cravath, Swaine & Moore LLP acted as legal advisor to the company for the offering. The company intends to use the proceeds from the offering for repayment of debt and general corporate purposes, including working capital.

Deal history

Completed: On March 22, 2017, GasLog completed the public offering of 8.875% senior notes, due March 22, 2022, for gross proceeds of US$250 MM.

Pricing: On March 17, 2017, GasLog priced the public offering of 8.875% senior notes, due March 22, 2022, for gross proceeds of US$250 MM.

Filing: On March 13, 2017, GasLog filed a prospectus with the US Securities and Exchange Commission for the public offering of senior notes, due 2022, for gross proceeds of US$250 MM.

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