According to the statement, the transaction is nearly two times oversubscribed, prior to retail syndication. Venture Global claims that the proceeds of the construction financing, along with the equity investment from Stonepeak Infrastructure Partners, will be used to fund the construction and commissioning of the Calcasieu Pass facility and the associated TransCameron pipeline.
The lender group includes the world’s leading Asian, European and North American project finance banks.
The bank group is: Banco Santander, S.A, Bank of America, N.A., Goldman Sachs Bank USA, Industrial & Commercial Bank of China Ltd, ING Capital LLC, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd, Morgan Stanley Senior Funding, Inc., Natixis, Nomura Securities International, Inc., Royal Bank of Canada, Sumitomo Mitsui Banking Corp., and The Bank of Nova Scotia.
Venture Global LNG Co-CEOs Mike Sabel and Bob Pender said jointly: “The incredible market response to our Calcasieu Pass debt facility is the culmination of many years of work by our team. We are incredibly proud that the world's leading project finance institutions have responded with such a validation of the quality of our structure and partners with outstanding terms and a significant oversubscription. The company has now secured more than US$8.6 billion of capital and is continuing full construction and fabrication activity at Calcasieu Pass.”
The Venture Global Calcasieu Pass facility will have a capacity of 10 million tpy, and will use a comprehensive process solution from Baker Hughes, a GE company (BHGE) that utilises efficient, mid scale, modular, factory-fabricated liquefaction trains. The company claims that Kiewit is responsible for the design, engineering, constructing, commissioning, testing and guaranteeing of the facility.
According to the statement, Calcasieu Pass has received all of the necessary permits, including authorisation from the FERC and non-FTA export authorisation from the US Department of Energy.
Read the article online at: https://www.lngindustry.com/liquefaction/19072019/venture-global-secures-binding-commitments-for-project-construction-financing/