GasLog Ltd., the Monaco-based LNG carrier fleet owner with 19 vessels and another 15 ships held by its US affiliate GasLog Partners, has signed an export credit agency-backed debt financing facility of $1.05 billion with 12 international banks for its current newbuilding programme.
The Newbuild Facility covers the balance due to the shipyard on delivery and consequently the final instalments of the seven newbuildings are fully funded, the company said.
GasLog also amended the covenants on its existing bank facilities to align them with the terms of the Newbuild Facility and the recently concluded GasLog Warsaw facility.
In addition, GasLog has called the remaining NOK 434M of its 2021 NOK Bond, that will be settled in January 2020 with proceeds from its 2024 NOK 900M bond issued November 2019.
