diff --git a/test/functional/combine_logs.py b/test/functional/combine_logs.py
index 27971b61f..a71c6483b 100755
--- a/test/functional/combine_logs.py
+++ b/test/functional/combine_logs.py
@@ -1,136 +1,149 @@
 #!/usr/bin/env python3
 """Combine logs from multiple bitcoin nodes as well as the test_framework log.
 
 This streams the combined log output to stdout. Use combine_logs.py > outputfile
 to write to an outputfile."""
 
 import argparse
 from collections import defaultdict, namedtuple
 import glob
 import heapq
 import itertools
 import os
 import re
 import sys
 
 # Matches on the date format at the start of the log event
-TIMESTAMP_PATTERN = re.compile(r"^\d{4}-\d{2}-\d{2}T\d{2}:\d{2}:\d{2}\.\d{6}Z")
+TIMESTAMP_PATTERN = re.compile(
+    r"^\d{4}-\d{2}-\d{2}T\d{2}:\d{2}:\d{2}(\.\d{6})?Z")
 
 LogEvent = namedtuple('LogEvent', ['timestamp', 'source', 'event'])
 
 
 def main():
     """Main function. Parses args, reads the log files and renders them as text or html."""
 
     parser = argparse.ArgumentParser(
         usage='%(prog)s [options] <test temporary directory>', description=__doc__)
     parser.add_argument('-c', '--color', dest='color', action='store_true',
                         help='outputs the combined log with events colored by source (requires posix terminal colors. Use less -r for viewing)')
     parser.add_argument('--html', dest='html', action='store_true',
                         help='outputs the combined log as html. Requires jinja2. pip install jinja2')
     args, unknown_args = parser.parse_known_args()
 
     if args.html and args.color:
         print("Only one out of --color or --html should be specified")
         sys.exit(1)
 
     # There should only be one unknown argument - the path of the temporary
     # test directory
     if len(unknown_args) != 1:
         print("Unexpected arguments" + str(unknown_args))
         sys.exit(1)
 
     log_events = read_logs(unknown_args[0])
 
     print_logs(log_events, color=args.color, html=args.html)
 
 
 def read_logs(tmp_dir):
     """Reads log files.
 
     Delegates to generator function get_log_events() to provide individual log events
     for each of the input log files."""
 
     # Find out what the folder is called that holds the debug.log file
     chain = glob.glob("{}/node0/*/debug.log".format(tmp_dir))
     if chain:
         # pick the first one if more than one chain was found (should never
         # happen)
         chain = chain[0]
         # extract the chain name
         chain = re.search(r'node0/(.+?)/debug\.log$', chain).group(1)
     else:
         # fallback to regtest (should only happen when none exists)
         chain = 'regtest'
 
     files = [("test", "{}/test_framework.log".format(tmp_dir))]
     for i in itertools.count():
         logfile = "{}/node{}/{}/debug.log".format(tmp_dir, i, chain)
         if not os.path.isfile(logfile):
             break
         files.append(("node{}".format(i), logfile))
 
     return heapq.merge(*[get_log_events(source, f) for source, f in files])
 
 
 def get_log_events(source, logfile):
     """Generator function that returns individual log events.
 
     Log events may be split over multiple lines. We use the timestamp
     regex match as the marker for a new log event."""
     try:
         with open(logfile, 'r', encoding='utf-8') as infile:
             event = ''
             timestamp = ''
             for line in infile:
                 # skip blank lines
                 if line == '\n':
                     continue
                 # if this line has a timestamp, it's the start of a new log
                 # event.
                 time_match = TIMESTAMP_PATTERN.match(line)
                 if time_match:
                     if event:
                         yield LogEvent(timestamp=timestamp, source=source, event=event.rstrip())
-                    event = line
                     timestamp = time_match.group()
+                    if time_match.group(1) is None:
+                        # timestamp does not have microseconds. Add zeroes.
+                        timestamp_micro = timestamp.replace("Z", ".000000Z")
+                        line = line.replace(timestamp, timestamp_micro)
+                        timestamp = timestamp_micro
+                    event = line
                 # if it doesn't have a timestamp, it's a continuation line of
                 # the previous log.
                 else:
-                    event += "\n" + line
+                    # Add the line. Prefix with space equivalent to the source
+                    # + timestamp so log lines are aligned
+                    event += "                                   " + line
             # Flush the final event
             yield LogEvent(timestamp=timestamp, source=source, event=event.rstrip())
     except FileNotFoundError:
         print("File {} could not be opened. Continuing without it.".format(
             logfile), file=sys.stderr)
 
 
 def print_logs(log_events, color=False, html=False):
     """Renders the iterator of log events into text or html."""
     if not html:
         colors = defaultdict(lambda: '')
         if color:
             colors["test"] = "\033[0;36m"   # CYAN
             colors["node0"] = "\033[0;34m"  # BLUE
             colors["node1"] = "\033[0;32m"  # GREEN
             colors["node2"] = "\033[0;31m"  # RED
             colors["node3"] = "\033[0;33m"  # YELLOW
             colors["reset"] = "\033[0m"     # Reset font color
 
         for event in log_events:
+            lines = event.event.splitlines()
             print("{0} {1: <5} {2} {3}".format(
-                colors[event.source.rstrip()], event.source, event.event, colors["reset"]))
+                colors[event.source.rstrip()], event.source, lines[0], colors["reset"]))
+            if len(lines) > 1:
+                for line in lines[1:]:
+                    print("{0}{1}{2}".format(
+                        colors[event.source.rstrip()], line, colors["reset"]))
 
     else:
         try:
             import jinja2
         except ImportError:
             print("jinja2 not found. Try `pip install jinja2`")
             sys.exit(1)
         print(jinja2.Environment(loader=jinja2.FileSystemLoader('./'))
                     .get_template('combined_log_template.html')
                     .render(title="Combined Logs from testcase", log_events=[event._asdict() for event in log_events]))
 
 
 if __name__ == '__main__':
     main()