Borrowings under the revolving credit facility will bear interest at a rate of London Interbank Offered Rate (LIBOR) plus 325 basis points per annum. Undrawn commitment fees are 75 basis points per annum.
In the statement, Cheniere claims that the borrowings may be used to fund equity capital contributions to Cheniere CCH HoldCo II, LLC, as well as for general corporate purposes (subject to certain restrictions). Cheniere CCH HoldCo II, LLC is a wholly owned subsidiary of Cheniere.
Societe Generale is Administrative Agent, whilst Goldman Sachs Bank USA, Morgan Stanley Senior Funding, Inc. and SG Americas Securities, LLC are Joint Lead Arrangers and Joint Bookrunners. The participating banks are Bank of America, N.A., Credit Suisse AG, Cayman Islands Branch, Goldman Sachs Bank USA, HSBC Bank USA, National Association, Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., Royal Bank of Canada, Societe Generale and Sumitomo Mitsui Banking Corp.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/06032017/cheniere-energy-closes-on-us750-million-revolving-credit-facility/