GasLog Ltd. (NYSE:GLOG) plans an initial public offering of units in a master limited partnership to be formed to own certain of GasLog’s LNG carriers with multi-year charters. The proceeds of the offering would principally be used to reduce indebtedness.
GasLog is an international owner, operator and manager of LNG carriers. Its fleet consists of 15 wholly owned LNG carriers, including two ships delivered in 2010, five ships delivered in 2013 and eight LNG carriers on order. In addition, GasLog has 12 LNG carriers operating under its technical management for third parties.