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Cheniere to sell US$ 1 billion in senior secured notes

LNG Industry,

Cheniere Energy Partners, LP (Cheniere Partners) announced today that its wholly owned subsidiary, Sabine Pass Liquefaction, LLC (Sabine Liquefaction), intends to offer US$ 1 billion of senior secured notes due in 2022.

Sabine Liquefaction intends to use the net proceeds from the offering to pay capital costs in connection with the construction of the first four liquefaction trains at its facility in Cameron Parish, Louisiana, and any fees and expenses incurred associated with the offering.

The net proceeds will be used to reduce commitments on a ratable basis under Sabine Liquefaction's four credit facilities totaling US$ 5.9 billion (collectively, the 2013 Liquefaction Credit Facilities). The notes are ‘pari passu’ in right of payment with all existing and future senior indebtedness of Sabine Liquefaction, including borrowings under the 2013 Liquefaction Credit Facilities and its outstanding senior secured notes due in 2021 and 2023.


Adapted from press release by Ted Monroe

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