GasLog Prices Offering of NOK 500,000,000 Senior Unsecured Notes
13 Juin 2013 - 10:57PM
Business Wire
GasLog Ltd. ("GasLog" and the "Company") (NYSE: GLOG)
today announced that it has priced an offering of NOK 500,000,000
aggregate principal amount of senior unsecured notes due 2018 (the
"Notes"). The Notes priced at 100% and will bear interest at a
spread of 5.50% over 3 month NIBOR. The offering was
oversubscribed. The transaction is subject to customary closing
conditions and settlement is expected to occur on 27 June 2013.
Peter G. Livanos, GasLog’s Chairman and controlling shareholder,
and John S. Radziwill, the father of our Vice Chairman, Philip
Radziwill, have advised that they will purchase, directly or
indirectly through controlled entities, an aggregate of
approximately NOK 60,000,000 in principal amount of the Notes in
the offering at the offering price. The proceeds from the offering
will be used for general corporate purposes, including financing
for GasLog’s newbuilding program.
About GasLog Ltd.
GasLog is an international owner, operator and manager of LNG
carriers. GasLog’s fleet consists of 12 wholly-owned LNG carriers,
including two ships delivered in 2010, three ships delivered in
2013 and seven LNG carriers on order. In addition, GasLog currently
has 12 LNG carriers operating under its technical management for
external customers. GasLog’s principal executive offices are at
Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. GasLog’s
website is http://www.gaslogltd.com.
Cautionary Statement
The Notes will be offered only to non-U.S. persons outside the
United States pursuant to Regulation S under the U.S. Securities
Act of 1933, as amended (the “Securities Act”), and in a private
placement only to “qualified institutional buyers” (as defined
under the Securities Act) in the U.S. in a transaction not
requiring registration under the Securities Act, subject to
prevailing market and other conditions. There is no assurance that
the offering will be completed or, if completed, as to the terms on
which it is completed. The Notes to be offered have not been
registered under the Securities Act or the securities laws of any
other jurisdiction and may not be offered or sold in the United
States absent registration or unless pursuant to an applicable
exemption from the registration requirements of the Securities Act
and any other applicable securities laws. This press release does
not constitute an offer to sell or the solicitation of an offer to
buy the Notes, nor shall it constitute an offer, solicitation or
sale in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
This announcement does not constitute and shall not, in any
circumstances, constitute a public offering nor an invitation to
the public in connection with any offer within the meaning of the
Directive 2010/73/EU of the Parliament and Council of November 4,
2003 as implemented by the Member States of the European Economic
Area (the “Prospectus Directive”). The offer and sale of the Notes
will be made pursuant to an exemption under the Prospectus
Directive, as implemented in Member States of the European Economic
Area, from the requirement to produce a prospectus for offers of
securities.
Statements in this release which are not historical facts are
forward-looking statements. All forward-looking statements involve
risks and uncertainties which could affect GasLog’s actual
operating performance, vessel deliveries and results and could
cause any of these to differ materially from those expressed in any
forward looking statements made by, or on behalf of, GasLog.
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