METHANE RITA ANDREA

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GasLog Partners LP Adds LNG Carrier 'Methane Rita Andrea' to its fleet

GasLog Partners LP has entered a deal with GasLog Ltd. to purchase two LNG carriers, the Methane Jane Elizabeth and Methane Rita Andrea, built in 2006, each with a capacity of 145,000 cubic meters, for an aggregate purchase price of USD 328 million. GasLog Partners expects to finance the acquisition with a combination of equity and the assumption of the vessels’ existing credit facilities. In addition, GasLog Partners has entered into a commitment letter with Citibank for a new USD 450 million credit facility to refinance the current credit facilities of the vessels currently owned by the company, as well as the facilities for the two LNG carriers being acquired. GasLog acquired the Methane Jane Elizabeth and Methane Rita Andrea from an affiliate of BG Group (BG) in April 2014. GasLog supervised the construction of each ship and has provided technical management for the ships since delivery. The vessels are currently operating under long-term time charters with BG with initial terms of 5.5 and 6 years, respectively (through October 2019 and April 2020).