Cheniere engages financial institutions for liquefaction project

Cheniere Energy Inc.

Cheniere Energy Inc. (NYSE MKT: LNG) has engaged 18 financial institutions to act as joint lead arrangers to assist in the structuring and arranging of up to $11.5 billion of debt facilities. 

The proceeds will be used to pay for the costs of development and construction of the LNG export facility and related pipeline being developed near Corpus Christi, Texas and for general business purposes. As previously disclosed, estimated capital costs for the proposed liquefaction project of $11.5 billion to $12.0 billion, before financing and pipeline facilities, are expected to be funded from a combination of debt and equity financings. 

The 18 arrangers are Bank of America, BNP Paribas Securities, Credit Suisse, Goldman Sachs, HSBC, ING Capital, Intesa Sanpaolo, JPMorgan Chase, Lloyds Bank, Mizuho Bank, Morgan Stanley, Royal Bank of Canada, The Bank of Nova Scotia, Société Générale, Sumitomo Mitsui Banking Corp., Commonwealth Bank of Australia, Standard Chartered Bank, and The Bank of Tokyo-Mitsubishi UFJ Ltd.

Construction on the Corpus Christi liquefaction project is expected to begin in early 2015.

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