GasLog Ltd. Announces Filing of Registration Statement by Master Limited Partnership

MONACO--(BUSINESS WIRE)--

GasLog Ltd. (“GasLog” or the “Company”) GLOG today announced the filing of a Registration Statement on Form F-1 with the Securities and Exchange Commission (the “SEC”) for the initial public offering of common units representing limited partnership interests in GasLog Partners LP (the “MLP”). The number of common units to be offered and the price range for the offering have not yet been determined. Application will be made to list the common units of the MLP on the New York Stock Exchange under the symbol “GLOP.” The Company intends to contribute three of its existing LNG carriers with multi-year charters to the MLP and expects to retain a portion of the MLP's common units, as well as all of the MLP's subordinated units, general partner interest and incentive distribution rights. The proceeds of the offering are expected to be used principally to reduce indebtedness. Completion of the initial public offering is subject to further authorization of the board of directors of the Company, as well as completion of the SEC review process.

The offering is being made only by means of a prospectus. When available, a preliminary prospectus relating to the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (tel: (800) 831-9146).

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About GasLog Ltd.

GasLog is an international owner, operator and manager of LNG carriers. Following the recently announced agreement to purchase three LNG carriers from Methane Services Ltd., an affiliate of BG Group, GasLog's fleet will include 18 wholly owned LNG carriers, including eleven ships in operation and seven LNG carriers on order. After giving effect to the acquisition, GasLog will have nine LNG carriers operating under its technical management for third parties. GasLog's principal executive offices are located at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco.

Forward Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, completion of the MLP initial public offering, future operating or financial results and future revenues and expenses, future, pending or recent acquisitions, general market conditions and shipping industry trends, the financial condition and liquidity of the Company, cash available for dividend payments, future capital expenditures and drydocking costs and newbuild vessels and expected delivery dates, are forward looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections. Risks and uncertainties include, but are not limited to, general LNG and LNG shipping market conditions and trends, including charter rates, ship values, factors affecting supply and demand, technological advancements and opportunities for the profitable operation of LNG carriers; our ability to enter into time charters with our existing customers as well as new customers; our contracted charter revenue; our customers' performance of their obligations under our time charters and other contracts; the effect of volatile economic conditions and the differing pace of economic recovery in different regions of the world; future operating or financial results and future revenues and expenses; our future financial condition and liquidity; our ability to obtain financing to fund capital expenditures, acquisitions and other corporate activities, funding by banks of their financial commitments, and our ability to meet our obligations under our credit facilities; future, pending or recent acquisitions of ships or other assets, business strategy, areas of possible expansion and expected capital spending or operating expenses; our ability to complete the formation of a proposed master limited partnership; our expectations relating to dividend payments and our ability to make such payments; our ability to enter into shipbuilding contracts for newbuildings and our expectations about the availability of existing LNG carriers to purchase, as well as our ability to consummate any such acquisitions; our expectations about the time that it may take to construct and deliver newbuildings and the useful lives of our ships; number of off-hire days, drydocking requirements and insurance costs; our anticipated general and administrative expenses; fluctuations in currencies and interest rates; our ability to maintain long-term relationships with major energy companies; expiration dates and extensions of charters; our ability to maximize the use of our ships, including the re-employment or disposal of ships no longer under time charter commitments; environmental and regulatory conditions, including changes in laws and regulations or actions taken by regulatory authorities; requirements imposed by classification societies; risks inherent in ship operation, including the discharge of pollutants; availability of skilled labor, ship crews and management; potential disruption of shipping routes due to accidents, political events, piracy or acts by terrorists; and potential liability from future litigation.

A further list and description of these risks, uncertainties and other factors can be found in our Annual Report filed with the SEC on March 27, 2014. Copies of the Annual Report, as well as subsequent filings, are available online at www.sec.gov or on request from us. In addition, we may not ultimately offer common units of the MLP to the public, the MLP may not raise the planned amount of proceeds even if the initial public offering is completed, we may change the planned initial assets to be included in the MLP and the timetable in which the proposed transactions may be completed is uncertain. No assurance can be given as to the value of the MLP, the price at which its securities may trade or whether a liquid market for its securities will develop or be maintained. We do not undertake to update any forward-looking statements as a result of new information or future events or developments.