GasLog Partners Public Offering to Raise USD 54 Mn

GasLog Partners Operator of liquefied natural gas (LNG) carriers GasLog Partners LP is looking to raise some USD 54 million as it announced a public offering of 2.75 million common units. Net proceeds from the public offering would be used for general partnership purposes, which may include future acquisitions, debt repayment, capital expenditures and additions to working capital, as well as the future acquisitions from the companys parent, GasLog Ltd. The units are being offered at a price of USD 19.50 per common unit. Barclays Capital Inc., which is acting as underwriter for the offering, has a 30-day option to purchase up to 412,500 additional common units from the partnership, GasLog Partners said. The partnerships fleet consists of eight LNG carriers with an average carrying capacity of 148,750 cbm, each of which has a multi-year time charter.