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CM - GasLog nixing IDRs & simplifying structure with B units - July 2019

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NYSE-traded GasLog Partners LP and its general partner GasLog Ltd. eliminated the latter’s incentive distribution rights in exchange for newly issued limited partner units. In exchange for the IDRs, GasLog will receive 2,532,911 common units and 2,490,000 of new Class B units. The Class B units are not entitled to cash distributions or voting rights until they convert into common units. A conversion schedule for the units, on a one-for-one basis into common units, commences July 1, 2020, the first......
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