GasLog sets bondholders meeting for Nov. 14, seeks more flexibility

By Susanna Moon

Chicago, Oct. 31 – GasLog Ltd. said it will hold a bondholder meeting on Nov. 14 to seek approval to amend its bonds issued in June 2013.

The company is seeking to amend the bond agreement to allow greater flexibility to make dividend payments or distributions in any given year, according to a company press release.

In return, the company said it will agree to additional customary financial covenants if dividends exceed a proportion of consolidated net profit.

GasLog said it has grown significantly since the bond issue, adding vessels and fixed-rate revenue, while expanding its access to the capital markets through the initial public offering of GasLog Partners LP.

GasLog is a Monaco-based owner, operator and manager of liquefied natural gas carriers.

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