GasLog expected to price $250 million seven-year notes this week

By Paul A. Harris

Portland, Ore., March 13 – GasLog Ltd. is expected to price a $250 million offering of non-rated senior notes due 2024 this week, according to a market source.

The deal is in the market with initial guidance of 8½% to 8¾%, the source added.

Stifel Nicolaus & Co. Inc. and DNB Markets Inc. are the joint bookrunners for the off-the-shelf offer.

The notes come with four years of call protection.

GasLog said that its largest shareholder, Blenheim Holdings Ltd., a company controlled by its chairman Peter G. Livanos, has indicated it intends to buy up to $10 million of notes in the offering.

The Monaco-based owner, operator and manager of LNG carriers plans to use the proceeds to repay debt and for general corporate purposes including working capital.

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