GasLog Partners LP (the “Partnership”) (NYSE:GLOP) today announced a
public offering of 7,500,000 common units. The Partnership intends to
grant the underwriters a 30-day option to purchase up to 1,125,000
additional common units from the Partnership.
The Partnership plans to use the net proceeds from the public offering
to fund the previously announced acquisition of 100% of the ownership
interests in GAS-nineteen Ltd., Gas-twenty Ltd. and GAS-twenty one Ltd.,
the entities that own the liquefied natural gas (“LNG”) carriers the Methane
Alison Victoria, the Methane Shirley Elisabeth and the Methane
Heather Sally, respectively, from GasLog Ltd. (NYSE: GLOG), to
partially prepay amounts under an existing credit facility related to
the vessels being acquired and for general partnership purposes.
Citigroup Global Markets Inc., Barclays Capital Inc., Morgan Stanley &
Co. LLC, Evercore Group L.L.C., UBS Securities LLC, Wells Fargo
Securities, LLC, Credit Suisse Securities (USA) LLC and Deutsche Bank
Securities Inc. are acting as joint book-running managers and ABN AMRO
Securities (USA) LLC is acting as co-manager for the offering.
The offering is being made only by means of a prospectus. A copy of the
preliminary prospectus relating to the offering may be obtained from
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, Telephone: (800) 831-9146.
A registration statement relating to these securities was declared
effective by the U.S. Securities and Exchange Commission on June 8,
2015. This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, and shall not constitute an
offer, solicitation or sale in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that jurisdiction.
About GasLog Partners LP
GasLog Partners LP is a growth-oriented master limited partnership
focused on owning, operating and acquiring LNG carriers under long-term
charters. Before giving effect to the proposed vessel acquisition
discussed above, GasLog Partners LP’s fleet consists of five LNG
carriers with an average carrying capacity of 151,000 cbm, each of which
has a multi-year time charter. For more information, please visit the
GasLog Partners LP website at http://www.gaslogmlp.com.
Forward-Looking Statements
All statements in this press release that are not statements of
historical fact are “forward-looking statements” within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements that address activities,
events or developments that the Partnership expects, projects, believes
or anticipates will or may occur in the future, particularly in relation
to the Partnership’s operations, cash flows, financial position,
liquidity and cash available for dividends or distributions, plans,
strategies and business prospects, and changes and trends in the
Partnership’s business and the markets in which it operates. These
statements are based on current expectations of future events. If
underlying assumptions prove inaccurate or unknown risks or
uncertainties materialize, actual results could vary materially from the
Partnership’s expectations and projections. Accordingly, you should not
unduly rely on any forward-looking statements. Factors that might cause
future results and outcomes to differ include:
-
LNG shipping market conditions and trends, including spot and
long-term charter rates, ship values, factors affecting supply and
demand of LNG and LNG shipping and technological advancements;
-
our ability to enter into time charters with new and existing
customers;
-
changes in the ownership of our charterers;
-
our customers’ performance of their obligations under our time
charters;
-
changing economic conditions and the differing pace of economic
recovery in different regions of the world;
-
our future financial condition, liquidity and cash available for
dividends and distributions;
-
our ability to obtain financing to fund capital expenditures,
acquisitions and other corporate activities, the ability of our
lenders to meet their funding obligations, and our ability to meet the
restrictive covenants and other obligations under our credit
facilities;
-
our ability to enter into shipbuilding contracts for newbuildings and
our expectations about the availability of existing LNG carriers to
purchase, as well as our ability to consummate any such acquisitions;
-
our expectations about the time that it may take to construct and
deliver newbuildings and the useful lives of our ships;
-
number of off-hire days, drydocking requirements and insurance costs;
our anticipated general and administrative expenses;
-
fluctuations in currencies and interest rates;
-
our ability to maximize the use of our ships, including the
re-employment or disposal of ships not under time charter commitments;
-
environmental and regulatory conditions, including changes in laws and
regulations or actions taken by regulatory authorities;
-
requirements imposed by classification societies;
-
risks inherent in ship operation, including the discharge of
pollutants;
-
availability of skilled labor, ship crews and management;
-
potential disruption of shipping routes due to accidents, political
events, piracy or acts by terrorists;
-
potential liability from future litigation; and
-
other risks and uncertainties described in the Partnership’s Annual
Report on Form 20-F filed with the SEC on February 17, 2015 and in the
Prospectus Supplement filed with the SEC on June 22, 2015. Copies of
the Annual Report, as well as subsequent filings, are available online
at http://www.sec.gov.
The Partnership does not undertake to update any forward-looking
statements as a result of new information or future events or
developments except as may be required by law.
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