Monaco, May 16, 2019 (GLOBE NEWSWIRE) -- GasLog Ltd. (“GasLog” or the “Company”) (NYSE:GLOG), an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, announced today the closing of its public offering of an additional $75.0 million aggregate principal amount of its 8.875% Senior Notes due 2022 (the “Notes”). The Notes were an issuance of further notes of the same series under the indenture pursuant to which the Company previously issued $250.0 million aggregate principal amount of the Company’s 8.875% Senior Notes due 2022 (the “Existing Notes”). The Notes were issued at 102.5% of the principal amount, plus accrued interest totaling $0.9 million in the aggregate from March 30, 2019, the most recent date on which interest on the Existing Notes was paid, to May 16, 2019, with a yield to maturity of 7.885%.

The net proceeds from the offering after deducting the underwriting discount and estimated offering expenses are expected to be approximately $75.3 million. The Company plans to use the net proceeds from the offering to partially fund the Company’s committed growth capital program and for general corporate purposes, including working capital.

Credit Suisse Securities (USA) LLC, DNB Markets, Inc. and Stifel, Nicolaus & Company, Incorporated acted as joint book-running managers of the offering.

The offering was made only by means of a prospectus supplement and accompanying base prospectus. The prospectus supplement and accompanying base prospectus relating to the offering may be obtained from: Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, telephone: (800) 221-1037, email: usa.prospectus@credit-suisse.com; DNB Markets, Inc., 200 Park Ave, Floor 31, New York, NY 10166, telephone: (212) 681-3800; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, MD 21202, telephone: (855) 300-7136, email: syndprospectus@stifel.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Contacts:

Phil Corbett
Head of Investor Relations
Phone: +44-203-388-3116

Joseph Nelson
Deputy Head of Investor Relations
Phone: +1 212-223-0643

Email: ir@gaslogltd.com

About GasLog Ltd.

GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog’s consolidated fleet consists of 34 LNG carriers and an additional LNG carrier which was sold to a subsidiary of Mitsui Co. Ltd. and leased back under a long-term bareboat charter. 20 of these vessels (12 ships on the water and eight on order) are owned by GasLog with the remaining 15 LNG carriers being owned by the Company’s subsidiary, GasLog Partners. GasLog's principal executive offices are at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco.

Forward-Looking Statements

All statements in this press release that are not statements of historical fact are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, particularly in relation to our operations, cash flows, financial position, liquidity and cash available for dividends or distributions, plans, strategies, business prospects and changes and trends in our business and the markets in which we operate. We caution that these forward-looking statements represent our estimates and assumptions only as of the date of this press release, about factors that are beyond our ability to control or predict, and are not intended to give any assurance as to future results. Any of these factors or a combination of these factors could materially affect future results of operations and the ultimate accuracy of the forward-looking statements. Accordingly, you should not unduly rely on any forward-looking statements.

Factors that might cause future results and outcomes to differ include, but are not limited to, the following:

We undertake no obligation to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events, a change in our views or expectations or otherwise, except as required by applicable law. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.

The declaration and payment of dividends are at all times subject to the discretion of our board of directors and will depend on, amongst other things, risks and uncertainties described above, restrictions in our credit facilities, the provisions of Bermuda law and such other factors as our board of directors may deem relevant.