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GasLog seals $1bn refinancing

Piraeus-headquartered GasLog and GasLog Partners have secured three new loan agreements to refinance the group’s debt maturities due in 2021.

GasLog has signed a new $577m facility, while GasLog Partners has signed a $260m facility and $200m facility to refinance a total of $1.037bn of debt outstanding across 12 vessels.

The three new credit facilities are expected to close by the end of July.

Peter Livanos, chairman of GasLog, commented: “I am very pleased to announce the continued delivery of our in-built growth, refinancing of our 2021 debt maturities a year ahead of schedule and further reductions in our cost base, all strategic priorities heading into 2020.”

Earlier this week, GasLog took delivery of 180,000 cu m newbuild GasLog Westminster, which will immediately commence a seven-year charter with a subsidiary of Centrica.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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