Cheniere subsidiary offers senior secured notes

Cheniere Energy Partners LP

Cheniere Energy Partners LP (NYSE MKT: CQP) reports that its wholly owned subsidiary, Sabine Pass Liquefaction LLC, intends to offer, subject to market and other conditions, $1.5 billion principal amount of senior secured notes due 2024 (SPL 2024 Notes).

Sabine Pass 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, to repay certain outstanding indebtedness under Sabine Pass Liquefaction's four credit facilities totaling $5.0 billion (collectively, the 2013 Liquefaction Credit Facilities), and to pay fees and expenses incurred associated with the offering.

The net proceeds will be used to reduce commitments on a ratable basis under the 2013 Liquefaction Credit Facilities. The SPL 2024 Notes are pari passu in right of payment with all existing and future senior indebtedness of Sabine Pass Liquefaction, including borrowings under the 2013 Liquefaction Credit Facilities, its outstanding senior secured notes due 2021, 2022, and 2023, and obligations under the senior letter of credit and reimbursement agreement.

 

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...