GasLog Prices Public Offering Of 4.25 Mln Shares At $23.75/shr - Quick Facts

(RTTNews) - GasLog Ltd. (GLOG) announced that its public offering of 4.25 million common shares was priced at $23.75 per share.

The net proceeds from the Public Offering, after deducting underwriting discounts and other offering expenses, are expected to be about $95 million.

The company has also granted the underwriters a 30-day option to purchase up to an additional 637,500 shares of its common shares.

The company noted that it plans to use the net proceeds of the Public Offering to fund a portion of the purchase price of the Company's recently announced purchase of three LNG carriers from Methane Services Ltd., an affiliate of BG Group, and for general corporate purposes.

These ships are additional to the three LNG carriers that the Company has purchased from MSL on similar terms in a transaction completed on April 10, 2014.

The offering is expected to close on or about April 16, 2014.