Cheniere closes senior secured notes
Published by Callum O'Reilly,
Senior Editor
LNG Industry,
Cheniere Energy Inc. has announced that its wholly owned subsidiary, Cheniere Corpus Christi Holdings LLC, has closed the previously announced offering of US$1.25 billion aggregate principal amount of 7% Senior Secured Notes due 2024 (the CCH 2024 Notes).
Cheniere Corpus Christi Holdings LLC intends to use the net proceeds from the offering to prepay a portion of the principal amounts currently outstanding under its credit facility and to pay fees and expenses incurred in connection with this offering and the prepayment.
The CCH 2024 Notes will be secured by a first priority security interest in substantially all of the assets of Cheniere Corpus Christi Holdings LLC and its subsidiaries and by a pledge of all of the equity interests in Cheniere Corpus Christi Holdings LLC and will rank pari passu in right of payment with all existing and future senior secured indebtedness of Cheniere Corpus Christi Holdings LLC, including borrowings under the Cheniere Corpus Christi Holdings LLC Credit Facility.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/20052016/cheniere-closes-senior-secured-notes-2477/
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