GasLog and its master limited partnership (MLP) spin-off have refinanced nearly all of the debt coming due next year, taking out three loans totalling $1bn.

The Peter Livanos-backed, New York-listed duo said on Thursday that GasLog had received a $577m credit facility and spin-off GasLog Partners received $460m in new facilities.

"The [loans], which substantially refinance all of the group’s debt maturities due in 2021, strengthen the balance sheet and create additional liquidity for the group," a joint statement said.

GasLog currently has $266m outstanding on a vessel refinancing credit facility and $724m on a legacy facility.

The new loans refinance the entirety of the vessel facility and most of the legacy facility.

They will simplify the debt structure of GasLog and GasLog Partners and provide approximately $30m in incremental liquidity, the companies said. The loans have a maturity period of five years and an amortisation profile of at least 22 years.

Citibank, ABN Amro and Nordea Bank were global co-coordinators and bookrunners, while HSBC was the mandated lead arranger, Credit Agricole was lead arranger and UniCredit Bank and National Australia Bank were arrangers for the $577m facility.

BNP Paribas and Credit Suisse were co-coordinators and bookrunners for a $260m facility for GasLog Partners, while Alpha Bank was the arranger.

DNB's London Branch and ING were co-coordinators and bookrunners for the spin-off's $200m facility.

In late trading on Thursday, GasLog shares were down $0.07 to $3.06, while GasLog Partners shares were down $0.13 to $4.31.