GasLog Prices 8.75% Series A Cumulative Redeemable Perpetual Preference Shares

GasLog Ltd. an international owner, operator and manager of LNG Carriers, announced today that it priced its public offering of 4.0 million shares of 8.75% Series A Cumulative Redeemable Perpetual Preference Shares, par value $0.01 per share, liquidation preference $25.00 per share (the “Series A Preference Shares”) at $25.00 per share. The Company intends to file an application to list the Series A Preference Shares on the New York Stock Exchange.

The net proceeds from the offering after deducting underwriting discounts and commissions are expected to be approximately $96.85 million. The Company plans to use the net proceeds from the offering for general corporate purposes, which may include making vessel acquisitions or investments.

The Company has also granted the underwriters a 30-day option to purchase up to 600,000 additional Series A Preference Shares to cover over-allotments, if any.

UBS Securities LLC, Morgan Stanley & Co. LLC and Stifel are acting as joint book-running managers of the offering, which was made under an effective shelf registration statement. Credit Suisse Securities (USA) LLC is acting as joint lead manager.

The offering is expected to close on or about April 7, 2015.
Simon Crowe, CFO of GasLog (GLOG), commented, “Today’s offering broadens GasLog’s capital structure, further diversifying the company’s funding sources. The use of proceeds will be for general corporate purposes, including possible vessel acquisitions.”