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.