CorporateEurope

GasLog secures $325 million credit facility

By LNG Prime Staff
GasLog secures $325 million credit facility
Image: GasLog

Peter Livanos-led LNG shipping firm GasLog said it has entered into a note purchase agreement with Carlyle and EIG.

The deal is for an amount of up to $325 million of 7.75% notes due 2029, according to a GasLog statement.

Carlyle’s Global Credit platform made the investment with capital primarily from its Infrastructure Credit Fund.

On the other side, EIG made the investment through Global Project Fund V and other funds and accounts in EIG’s direct lending platform, GasLog said.

GasLog expects to draw down the credit facility in March 2022 and will use it to refinance the company’s 8.875% senior notes due in March 2022.

Also, the firm said it may use any remaining proceeds to pay transaction costs and expenses incurred in connection with the private placement and/or general corporate purposes.

GasLog’s consolidated fleet consists of 35 LNG carriers. Of these vessels, its unit GasLog Partners owns 15 ships.

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