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Stock Market & Financial Investment News

News Breaks
April 28, 2014
06:49 EDTGLOGGasLog Partners files 8.4M common unit IPO at $19-$21 each
GasLog Partners announced the commencement of an initial public offering of 8.4M 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. (GLOG). Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC, Barclays Capital Inc., Evercore Group L.L.C. and UBS Securities LLC are acting as joint book-running managers and Deutsche Bank Securities Inc. and DNB Markets, Inc. are acting as co-managers for the offering.
News For GLOG From The Last 14 Days
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April 21, 2015
07:13 EDTGLOGGasLog announces time charter of up to 9 newbuildings to BG Group
GasLog (GLOG) and GasLog Partners (GLOP) announced that GasLog has agreed to charter to Methane Services, a subsidiary of BG Group (BRGYY), three of GasLog’s uncontracted newbuilds that are currently under construction. MSL also has an option to elect to charter an additional six newbuilds provided it makes that election within 2015. The highlights of this transaction are as follows: MSL will charter three newbuildings commencing mid-2018 and early 2019 for average initial terms of approximately 9.5 years at attractive rates; These charters will add approximately $845M of fixed rate revenue to GasLog’s existing contracted revenue backlog; MSL has an option exercisable within 2015 to charter an additional six newbuildings for average initial terms of approximately 10 years; The six option vessels would add approximately $1.8B of fixed rate contracted revenue should MSL exercise its option.

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