GasLog Ltd. Announces Public Offering of Series A Cumulative Redeemable Perpetual Preference Shares
30 Mars 2015 - 3:53PM
Business Wire
GasLog Ltd. (“GasLog” or the “Company”) (NYSE:GLOG), an
international owner, operator and manager of LNG Carriers,
announced today that it plans to offer its Series A Cumulative
Redeemable Perpetual Preference Shares, par value $0.01 per share,
liquidation preference $25.00 per share (the “Series A Preference
Shares”) in a public offering under its effective shelf
registration statement. The Company intends to grant the
underwriters a 30-day option to purchase additional Series A
Preference Shares to cover overallotments, if any. The Company
intends to file an application to list the Series A Preference
Shares on the New York Stock Exchange.
The Company plans to use the net proceeds from the offering for
general corporate purposes, which may include making vessel
acquisitions or investments.
UBS Securities LLC, Morgan Stanley & Co. LLC and Stifel,
Nicolaus & Company, Incorporated are acting as joint
book-running managers of the offering. Credit Suisse Securities
(USA) LLC is acting as joint lead manager.
The offering is being made only by means of a prospectus
supplement and accompanying base prospectus. When available, the
prospectus supplement and accompanying base prospectus relating to
the offering may be obtained from UBS Securities LLC, Attention:
Prospectus Specialist, 299 Park Avenue, New York, New York, 10171,
telephone: (888) 827-7275, Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014, telephone: 1-866-718-1649, email:
prospectus@morganstanley.com, or Stifel, Nicolaus & Company,
Incorporated, Attention: Syndicate Department, 1 South Street, 15th
Floor, Baltimore, MD 21202, telephone: 1-855-300-7136, email:
syndprospectus@stifel.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction.
About GasLog Ltd.
GasLog is an international owner, operator and manager of
liquefied natural gas (“LNG”) carriers. GasLog’s wholly owned fleet
consists of 20 LNG carriers (including 11 ships in operation and 9
LNG carriers on order) and following the completion of the
transaction announced on December 22, 2014, GasLog’s wholly owned
fleet will consist of 22 LNG carriers. GasLog has 6 LNG carriers
operating under its technical management for third parties and
following the completion of the transaction announced on December
22, 2014, it will have 4 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.
Forward-Looking Statements
This 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 the
Company 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
of the Company, cash available for dividend payments, 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, fluctuations in the price of oil,
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 dividend payments and our
ability to make such payments; 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
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; 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. A further list and
description of these risks, uncertainties and other factors can be
found in our Annual Report filed with the SEC on March 26, 2015.
Copies of the Annual Report, as well as subsequent filings, are
available online at www.sec.gov or on
request from us.
We do not undertake to update any forward-looking statements as
a result of new information or future events or developments except
as may be required by law.
GasLogSimon CroweChief Financial OfficerPhone:
+44-203-388-3108orJamie BucklandHead of Investor RelationsPhone:
+44-203-388-3116Email: ir@gaslogltd.com
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