Cheniere Energy, Inc. has entered into a note purchase agreement with EIG Management Company, LLC (EIG) finalising the definitive documentation for the previously announced financing for the Corpus Christi Liquefaction Project.
As part of the agreement, investment funds managed by EIG will purchase US$1.5 billion of convertible notes. Proceeds from the financing will be used as equity to fund a portion of the costs of developing, constructing and placing into service the Corpus Christi project, which is being designed for up to three liquefaction trains with an expected aggregate annual production capacity of approximately 13.5 million tpy.
The financing is scheduled to close once Cheniere reaches a positive final investment decision on the liquefaction project, expected in the first half of 2015.
All financing commitments have been obtained for the project, including a portion of the proceeds from US$1 billion of convertible notes issued by Cheniere in November 2014 and the recently announced approximately US$11.5 billion of debt commitments received from several financial institutions in December 2014.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquefaction/19012015/cheniere-and-eig-finalise-corpus-christi-financing-64/