GasLog Ltd. : Successful placing of NOK 900 million of Senior Unsecured Bonds due 2024, and partial buy-back of existing GLOG...
14 Novembre 2019 - 10:30PM
GasLog Ltd. (the "Company") has successfully placed NOK 900 million
of senior unsecured bonds due November 2024 (“GLOG03”). The bonds
will carry a coupon of 3 months NIBOR + 6.25% which represents a
reduction of 0.65% compared to the margin of 6.90% on the current
GLOG02 bond (ISIN number NO0010767858), with maturity date 27 May
2021. The GLOG03 bonds will accordingly mature 3.5 years later than
the GLOG02 bond at a time when we anticipate that the LNG market
will be going through a period of strong growth, with approximately
80 million tonnes of new production capacity scheduled to come on
line in 2023 and 2024 combined, based on Wood Mackenzie data.
In connection with the placement of the new bond issue, the company
has acquired approximately NOK 315 million of the GLOG02 bonds. Net
proceeds from the bond issuance will be used for general corporate
purposes and prepayment of debt.
DNB Markets, Nordea and SEB acted as Joint Lead
Managers.
An application will be made for the bonds to be
listed on Oslo Stock Exchange.
Company contacts:
Philip Corbett
Head of Investor Relations
Phone: +44-203-388-3116
Joseph Nelson
Deputy Head of Investor Relations
Phone: +1 212-223-0643
Email: ir@gaslogltd.com
About GasLog Ltd.:
GasLog is an international owner, operator and
manager of LNG carriers providing support to international energy
companies as part of their LNG logistics chain. GasLog’s
consolidated fleet consists of 35 LNG carriers. Of these vessels,
19 (12 on the water and seven on order) are owned by GasLog, one
has been sold to a subsidiary of Mitsui Co. Ltd. and leased back by
GasLog under a long-term bareboat charter and the remaining 15 LNG
carriers are owned by the Company’s subsidiary, GasLog Partners LP.
GasLog's principal executive offices are at Gildo Pastor Center, 7
Rue du Gabian, MC 98000, Monaco. Visit GasLog’s website at
http://www.gaslogltd.com.
Cautionary Statement
The Notes will not be registered under the
U.S. Securities Act of 1933, as amended (the “Securities Act”), or
any state securities laws, and will be offered and sold within the
United States only to “qualified institutional buyers”, as defined
in Rule 144A under the Securities Act and outside the United
States to non-U.S. persons in reliance on Regulation S under the
Securities Act (“Regulation S”), 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 Regulation (EU) 2017/1129 of the European Parliament and
Council of June 14, 2017 as implemented by the Member States of the
European Economic Area (the “Prospectus Regulation”). The offer and
sale of the Notes will be made pursuant to an exemption under the
Prospectus Regulation, 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 4 March 2019 for a further explanation of important
factors that could cause actual events or actual results to differ
materially from those discussed during the presentation.
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