GasLog Ltd.: Completes Issuance of Bonds
14 Juin 2016 - 4:26PM
GasLog Ltd. ("GasLog" or the "Company") (NYSE:GLOG) has
successfully completed the issuance of NOK 750 million (equivalent
to approximately USD 90 million) of new senior unsecured bonds in
the Norwegian bond market. The bonds will mature in May 2021 and
will have a coupon of 6.9% over 3 month NIBOR. The offering was
oversubscribed. The transaction is subject to customary closing
conditions and settlement is expected to occur on June 27, 2016.
The proceeds from the issuance will be used to partly refinance the
Company's existing bonds maturing in June 2018.
Simon Crowe, Chief Financial Officer of GasLog
Ltd., commented: "We launched this Norwegian bond with the aim of
extending the maturity of half of our existing bonds, which fall
due in 2018. I am delighted that we achieved this objective. GasLog
continues to actively manage its balance sheet, positioning the
company for growth as the LNG shipping markets improve."
DNB Markets, Nordea Markets and SEB acted as
joint lead managers and bookrunners, and Arctic Securities as
co-manager in connection with the transaction.
About GasLog Ltd.
GasLog is an international owner, operator and
manager of LNG carriers. GasLog's fully-owned fleet includes
18 LNG carriers (11 carriers in operation and seven carriers on
order) and GasLog has four LNG carriers under its technical
management for third parties and a vessel secured under a long-term
bareboat charter from Lepta Shipping, a subsidiary of Mitsui.
GasLog Partners LP, a master limited partnership formed by GasLog,
owns a further eight LNG carriers. 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.
Contacts:
Simon Crowe - Chief Financial Officer
Phone: +44 203 388 3116
Jamie Buckland - Head of Investor Relations
Phone: +44 203 388 3116
Email: ir@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 that address activities, events or
developments that GasLog Ltd. expects, projects, believes or
anticipates will or may occur in the future are forward-looking
statements. These forward-looking statements are subject to
risks and uncertainties that could cause actual events or actual
future results to differ materially from those set forth in the
forward-looking statements. Please refer to GasLog Ltd.'s Form 20-F
filed on 14 March 2016 for a further explanation of important
factors that could cause actual events or actual results to differ
materially.
HUG#2020634
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