EuropeFinance and InsuranceGasTankers

GasLog fixes financing as it pursues ‘interesting growth opportunities’

LNG shipowner GasLog has launched a debt financing of $1.05bn with a number of international banks to refinance six legacy facilities covering eight ships built in the past six years.

As well as refinancing $960m of bank debt, the deal comes with a $100m revolving credit facility.

“Terms of the legacy facility re-financing are in line with GasLog’s existing facilities, demonstrating the banks’ strong appetite to lend to leading companies in the LNG industry,” the Monaco based firm said in a release.

Simon Crowe, chief financial officer, commented, that the additional liquidity would come in handy as the company looks “to pursue a number of interesting growth opportunities in the LNG carrier and FSRU sectors.”

Citibank, Credit Suisse and Nordea Bank are acting as mandated lead arrangers and joint bookrunners.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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