Milbank Advises Carlyle and EIG on GasLog’s Note Purchase Financing

Milbank LLP represented Carlyle and EIG as lenders in connection with GasLog Ltd.’s refinancing through a note purchase financing. The net proceeds of the note purchases will be applied to refinance GasLog’s 8.875% Senior Notes due in March 2022.

Carlyle’s Global Credit platform made the investment with capital primarily from its Infrastructure Credit Fund. EIG made the investment through Global Project Fund V and other funds and accounts in EIG’s direct lending platform.

GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog’s consolidated fleet consists of 35 LNG carriers.

The Milbank team was led by Global Project, Energy and Infrastructure Finance partners Dan Bartfeld and John Dewar with support from special counsel Munib Hussain and associate Yi Ming Chan.

Mr. Dewar noted, “We are honored to leverage our considerable strength and experience on both sides of the Atlantic in oil and gas transactions to bring this refinancing to a successful close.”

Mr. Bartfeld added, “We are pleased to have supported these lenders on an innovative direct lending transaction, showing again that such sources of capital are very desirable throughout the global energy market.”

Milbank has one of the largest project, energy and infrastructure groups in the world with over 125 dedicated lawyers in its offices in the Americas, Europe and Asia. In the past five years, the firm has acted as the lead legal advisor in a wide variety of power, energy, oil/gas, natural resources, transportation and other infrastructure projects worldwide that mobilized hundreds of billions of dollars of capital. This past year, Milbank was named the “Global Legal Advisor of the Year” by IJGlobal.