GasLog seals $1bn refinancing –

Piraeus-headquartered GasLog and GasLog Partners have secured three new loan agreements to refinance the groups 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.

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