Cheniere announces Train 5 debt financing

Cheniere Energy Partners L.P. has announced that Sabine Pass Liquefaction LLC has engaged 18 financial institutions to act as Joint Lead Arrangers to assist in the structuring and arranging of up to approximately US$5.8 billion of debt facilities, including approximately US$4.6 billion of credit facilities and an approximately US$1.2 billion revolving credit facility.

Sabine Pass Liquefaction will amend and upsize its existing credit facilities to increase the available commitments to fund a portion of the costs of developing, constructing and placing into service the first five liquefaction trains of the Sabine Pass liquefaction project in Cameron Parish, Louisiana, US, and for general business purposes.

The Sabine Pass Liquefaction Project is being designed for up to six liquefaction trains, each with nominal production capacity of approximately 4.5 million tpy.

Obtaining financing is one of the final milestones to complete before proceeding with construction of Train 5 of the Sabine Pass Liquefaction Project. Cheniere Partners confirmed that it expects to close the credit facilities and issue a notice to proceed to Bechtel Oil, Gas and Chemicals Inc. for Train 5 in due course.

Cheniere Partners is developing natural gas liquefaction facilities at the Sabine Pass LNG terminal adjacent to the existing regasification facilities. Cheniere Partners plans to construct up to six liquefaction trains, which are in various stages of development. As of 31 May 2015, Trains 1 and 2 were approximately 90.8% complete, while Trains 3 and 4 were approximately 67.7% complete. Cheniere Partners has received all regulatory approvals to construct and operate Train 5 and 6.

Edited from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquefaction/30062015/cheniere-announces-train-5-debt-financing-961/