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Gaslog Partners prices New York IPO at $21 per unit

Gaslog Partners prices New York IPO at $21 per unit
Gaslog Partners LP has priced its initial public offering (IPO) on the New York Stock Exchange (NYSE) at $21 per unit.

Gaslog Partners is selling 8.4m units of common stock at $21, which would raise a $176.4m, and will raise a further $26.46m if the underwriters 30-day option of 1.26m units is taken up, bringing the total raised to $202.86m.

“The proceeds from the offering will be used principally to reduce indebtedness and for general partnership purposes, with the remainder to be distributed to GasLog,” the company said.

Gaslog Partners is a limited partnership spun off from Gaslog and has an initial fleet of three LNG carriers from the parent.

It is due to start trading on NYSE on 7 May.

For more details on the offering read Barry Parker’s analysis of the prospectus here.