GasLog Ltd. Completes $1.3 Billion Financing Facility For Eight Newbuildings

GasLog Ltd. (“GasLog”, NYSE:GLOG), an international owner, operator and
manager of liquefied natural gas (“LNG”) carriers, announces that it has
completed an export credit agency-backed debt financing of $1.3 billion
with fourteen international banks for its current newbuilding programme
(the “Newbuild Facility”). The Newbuild Facility covers eight vessels,
which will be delivered between 2016 and 2019. Seven of the eight
vessels have long-term contracts of between 7 and 10 years and will be
chartered to a subsidiary of BG Group plc following delivery.

The key highlights of the $1.3 billion Newbuild Facility, the largest
financing in GasLog’s history, are as follows:

• Tenor of up to 12 years with an amortisation profile of 15 years from
  vessel delivery
• Attractive weighted-average margin
• High levels of interest from GasLog’s existing bank group and a number
  of new institutions (final commitments more than two times
  oversubscribed)
• Backed by the Export Import Bank of Korea ("KEXIM") and the Korea
  Trade Insurance Corporation ("K-Sure"), who are either directly
  lending or providing cover for over 60% of the facility
• All seven vessels with contracts are eligible for future dropdown into
  GasLog Partners LP

Terms of the Newbuild Facility are in line with or better than GasLog’s
existing facilities, demonstrating the banks’ strong appetite to lend to
leading counterparties in the LNG industry with modern assets and high
quality, long-term contracts, which provide significant visibility on
future revenue and cashflow.

The eight vessels covered by the Newbuild Facility are as follows:

GasLog’s outstanding capital expenditure for its eight-vessel newbuild
programme is approximately $1.5 billion, with $1.3 billion of debt
provided by the Newbuild Facility, representing all planned financing
for the vessels. As the vessels deliver over the next four years it is
intended that the outstanding balance will be funded by cash on GasLog’s
balance sheet and operational cash flow.

Simon Crowe, Chief Financial Officer of GasLog Ltd. commented, “I am
delighted we have completed GasLog’s largest financing to date, which
was executed during a period of volatility in the global energy sector.
This Newbuild Facility further strengthens GasLog’s robust financial
platform, which is backed by almost $4 billion of contracted revenue.
The strong relationships we have with our lenders and our stated
strategy of long-term contracted business with reputable customers were
imperative in securing attractive tenor and rates on this facility.

We have been very pleased to see both new and existing lenders in this
facility, demonstrating the appetite from a range of international banks
to lend to companies with modern assets with solid contracts at good
rates. The support of KEXIM and K-Sure further adds to the
attractiveness of this facility.”

Citibank N.A (“Citi”) and Nordea Bank AB (“Nordea”) acted as Global
Co-Coordinators, Bookrunners and Mandated Lead Arrangers (“MLAs”). Citi
has also acted as ECA Agent and ECA Coordinator and Nordea as Agent and
Security Agent. The other lead arrangers in the lending syndicate are
Bank of America National Association, BNP Paribas, Credit Agricole
Corporate and Investment Bank, Credit Suisse AG, HSBC Bank plc, ING Bank
N.V., KEB Hana Bank, KfW IPEX-Bank GmbH, National Australia Bank
Limited, Oversea-Chinese Banking Corporation Limited, Societe Generale
and The Korea Development Bank.

About GasLog Ltd.

GasLog is an international owner, operator and manager of LNG carriers.
GasLog’s fully-owned fleet includes 19 LNG carriers (including 11 ships
in operation and 8 LNG carriers on order) and GasLog has four LNG
carriers operating under its technical management for third parties.
GasLog Partners LP, a master limited partnership formed by GasLog, owns
a further eight LNG carriers. GasLog’s principal executive offices are
at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. GasLog’s
website is http://www.gaslogltd.com.

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