Cheniere Energy Partners L.P. has announced that it has engaged 13 financial institutions to act as Joint Lead Arrangers and Mandated Lead Arrangers. It has also engaged other participants to assist in the structuring and arranging of senior secured credit facilities in an aggregate principal amount of up to approximately US$2.8 billion.
Cheniere Partners intends to use the proceeds from these new credit facilities to prepay the US$400 million senior secured term loan at Cheniere Creole Trail Pipeline L.P. (CCTP); redeem or repay the approximately US$1.7 billion senior secured notes due 2016 and the US$420 million senior secured notes due 2020 that were issued by Sabine Pass LNG, L.P. (SPLNG); pay associated transaction fees, expenses, and make-whole amounts, if applicable; as well as for general business purposes of Cheniere Partners and its subsidiaries.
The 13 Arrangers and other participants are The Bank of Tokyo-Mitsubishi UFJ Ltd; ABN AMRO Capital USA LLC; Société Générale; Industrial and Commercial Bank of China Ltd, New York Branch; Intesa Sanpaolo S.P.A. New York Branch; JPMorgan Chase Bank, N.A.; Mizuho Bank Ltd; Sumitomo Mitsui Banking Corp.; Morgan Stanley Senior Funding Inc.; Bank of America, N.A.; Credit Suisse; HSBC Bank USA, N.A.; and Commonwealth Bank of Australia.
Neal Shear, Chairman of the Board and interim CEO of Cheniere Partners, said: "Cheniere Partners is pleased to have the continued support of its key relationship banks for this refinancing. Upon closing of this transaction and after subsequent repayment of our outstanding CCTP and SPLNG obligations, the earliest debt maturity at Cheniere Partners will be in 2020."
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/27012016/cheniere-engages-joint-lead-arrangers-1931/