now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk

Asia Connect
GasLog secures US$2.8 billion sustainability revolver
Financing allows company to refinance all outstanding debt for 23 LNG vessels
Michael Marray 29 Nov 2023

GasLog, a Greek owner and operator of vessels in the liquefied natural gas (LNG) market worldwide, has signed a five-year senior secured revolving credit facility amounting to US$2.8 billion.

The transaction was completed in mid-November, with GasLog drawing down US$2.1 billion, and the remaining US$672 million available for general corporate purposes. The loan features social and climate-related key performance indicators as pricing components.

Citibank and BNP Paribas were global coordinators. Norway’s DNB Bank acted as agent, while ABN AMRO acted as sustainability co-ordinator. Norton Rose Fulbright advised Citibank and BNP Paribas.

Alpha Bank, Credit Suisse, Danish Ship Finance, ING Bank, National Bank of Greece, Nordea Bank ABP, Filial I Norge, Oversea-Chinese Banking Corp and Standard Chartered acted as bookrunners and mandated lead arrangers alongside the co-ordinators, the agent and the sustainability coordinator. 

The financing has allowed GasLog to refinance all outstanding debt secured by the company’s 23 carriers. According to the company, the arrangement will simplify its debt structure, increase liquidity, decrease interest costs, and lighten debt servicing obligations.

The revolving facility is secured on GasLog's fleet of LNG carriers and incorporates KPIs linked to both carbon emissions and female representation in the company's cadetship programme.

Conversation
Peng Er Foo
Peng Er Foo
vice-president for sustainability
CapitaLand Investment
- JOINED THE EVENT -
5th ESG Summit
Swinging into action
View Highlights
Conversation
Yeoh Teik Leng
Yeoh Teik Leng
head, debt markets group
AmInvestment Bank
- JOINED THE EVENT -
6th Global Islamic Finance Issuers and Investors Leadership Dialogue
Marking time as new opportunities emerge
View Highlights