GasLog Ltd. Announces Approval from Norwegian Bondholders to Amend Bond Agreement
14 Novembre 2014 - 2:14PM
Business Wire
GasLog Ltd. (“GasLog” or the “Company”) (NYSE:GLOG) today
announced that it has received approval from its Norwegian
Bondholders to amend the Bond Agreement entered into with the
Nordic Trustee ASA in June 2013.
GasLog has grown significantly since the initial launch of the
bond in June 2013, adding vessels and further fixed rate revenue
whilst also increasing access to the capital markets, through the
initial public offering of GasLog Partners LP. The Company has
today been successful in obtaining an amendment to the bond terms
to allow the Company greater flexibility to make dividend payments
or distributions in any given year. In return for this greater
flexibility the Company has agreed to certain additional customary
financial covenants should dividends exceed a specified proportion
of consolidated net profit.
About GasLogGasLog is an international owner, operator
and manager of liquefied natural gas (“LNG”) carriers. GasLog’s
fleet consists of 20 wholly owned LNG carriers, including 10 ships
in operation and 10 LNG carriers on order, and GasLog has six LNG
carriers operating under its technical management for third
parties. GasLog Partners LP, a master limited partnership formed by
GasLog, owns a further five LNG carriers. GasLog’s principal
executive offices are located at Gildo Pastor Center, 7 Rue du
Gabian, MC 98000, Monaco. GasLog’s website is
http://www.gaslogltd.com.
Forward-Looking StatementsThis press release contains
“forward-looking statements” as defined in the Private Securities
Litigation Reform Act of 1995. The reader is cautioned not to rely
on these forward-looking statements. All statements, other than
statements of historical facts, that address activities, events or
developments that GasLog expects, projects, believes or anticipates
will or may occur in the future, including, without limitation,
future operating or financial results and future revenues and
expenses, future, pending or recent acquisitions, general market
conditions and shipping industry trends, the financial condition
and liquidity, cash available for distribution, future capital
expenditures and drydocking costs and newbuild vessels and expected
delivery dates, are forward looking statements. 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 our
expectations and projections. Risks and uncertainties include, but
are not limited to, general LNG and LNG shipping market conditions
and trends, including charter rates, ship values, factors affecting
supply and demand of LNG and LNG shipping, technological
advancements and opportunities for the profitable operation of LNG
carriers; our ability to enter into time charters with our existing
customers as well as new customers; our contracted charter revenue;
our customers’ performance of their obligations under our time
charters and other contracts; the effect of volatile economic
conditions and the differing pace of economic recovery in different
regions of the world; future operating or financial results and
future revenues and expenses; our future financial condition and
liquidity; our ability to obtain financing to fund capital
expenditures, acquisitions and other corporate activities, funding
by banks of their financial commitments, and our ability to meet
our obligations under our credit facilities; future, pending or
recent acquisitions of ships or other assets; business strategy,
areas of possible expansion and expected capital spending or
operating expenses; our expectations relating to distributions of
available cash and our ability to make such distributions; 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 maintain long-term relationships with major energy
companies; expiration dates and extensions of our time charters;
our ability to maximize the use of our ships, including the
re-employment or disposal of ships no longer under time charter
commitments; environmental and regulatory conditions, including
changes in laws and regulations or actions taken by regulatory
authorities; our continued compliance with 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; and potential liability from future litigation.
For a discussion of some of the risks and important factors that
could affect future results, see the discussion in GasLog Ltd.’s
Annual Report on Form 20-F for the year ended December 31, 2013
under the caption “Risk Factors”. We do not undertake to update any
forward-looking statements as a result of new information or future
events or developments. Copies of the Annual Report, as well as
subsequent filings, are available online at http://www.sec.gov or on request from us.
GasLogPaul Wogan (CEO)Phone: +377 9797 5115orSimon Crowe
(CFO)Phone: +377 9797 5115orJamie Buckland (Investor
Relations)Phone: +377 9797 5118
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