By Wendy Van Sickle
Columbus, Ohio, Nov. 14 – GasLog Ltd. placed NOK 900 million of senior bonds due November 2024, according to a press release Thursday.
The bonds will carry a coupon of Nibor plus 625 basis points, which is 65 bps less than the margin on the company’s current bond that matures on May 27, 2021.
DNB Markets, Nordea and SEB acted as joint lead managers.
The new bonds are set to mature at a time when GasLog anticipates the LNG market will be going through a period of strong growth, the company said in the release.
Proceeds will be used for general corporate purposes and prepayment of debt. In connection with the new bond, the company acquired about NOK 315 million of the 2021 bonds.
GasLog is a Monaco-based natural gas shipping company.
| Issuer: | GasLog Ltd.
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| Description: | Senior bonds
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| Amount: | NOK 900 million
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| Maturity: | November 2024
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| Bookrunners: | DNB Markets, Nordea and SEB
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| Coupon: | Nibor plus 625 bps
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| Announcement date: | Nov. 14
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