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Cheniere Partners Announces Offering of $1.5 Billion Senior Secured Notes due 2024 by Sabine Pass Liquefaction

May 30, 2014



By a News Reporter-Staff News Editor at Energy Weekly News -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced that its wholly owned subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Pass Liquefaction"), intends to offer, subject to market and other conditions, $1.5 billion principal amount of Senior Secured Notes due 2024 ("SPL 2024 Notes").

Sabine Pass Liquefaction intends to use the net proceeds from the offering to pay capital costs in connection with the construction of the first four liquefaction trains at its facility in Cameron Parish, Louisiana, to repay certain outstanding indebtedness under Sabine Pass Liquefaction's four credit facilities totaling approximately $5.0 billion (collectively, the "2013 Liquefaction Credit Facilities"), and to pay fees and expenses incurred associated with the offering. The net proceeds will be used to reduce commitments on a ratable basis under the 2013 Liquefaction Credit Facilities. The SPL 2024 Notes are pari passu in right of payment with all existing and future senior indebtedness of Sabine Pass Liquefaction, including borrowings under the 2013 Liquefaction Credit Facilities, its outstanding senior secured notes due 2021, 2022, and 2023, and obligations under the Senior Letter of Credit and Reimbursement Agreement.

The offer of the SPL 2024 Notes has not been registered under the Securities Act of 1933, as amended (the "Securities Act") and the SPL 2024 Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Keywords for this news article include: Oil & Gas, Energy Companies, Cheniere Energy Partners L.P..

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Source: Energy Weekly News