TheMaster Limited Partnership (MLP) spin-off is offering 8.4m shares in a movethat will raise gross proceeds of $176m.
Afurther $26.5m could be raised if the underwriters opt to exercise an option topurchase up to 1.26m additional shares.
Citigroup,Credit Suisse, Wells Fargo, Barclays, Evercore and UBS are joint book-runningmanagers and Deutsche Bank and DNB Markets are as co-managers for the offering.
GasLog said it will retain 1.4m of the MLP’scommon units if the underwriters’ option to purchase additional common units isnot exercised.
Proceedsfrom the IPO will be used to reduce debt and for general partnership purposes,with the remainder to be distributed to GasLog.
Parent GasLog’s fleet includes 18 wholly owned LNGcarriers, including 11 ships in operation and seven newbuildings on order.
Six of those vessels, including two newbuildings, arerequired to be offered to the MLP as they have contracts of five years or more.
GasLog Partners' shares are due to begin trading on theNew York Stock Exchange on 7 May 2014 under the ticker symbol “GLOP”.
