Cheniere Energy of USA announced today the pricing of its previously announced offering of its common stock at a price per share of $14.05. The size of the offering has been upsized from 20,000,000 shares to 28,000,000 shares.
Cheniere has also granted the underwriters a 30-day option to purchase up to an aggregate of 4,200,000 additional common shares to cover any over-allotments. The offering is expected to close and settle on July 20, 2012.
The Company intends to use the net proceeds from the offering to repay the $204.6 million principal amount outstanding of the 2.25% convertible notes due August 1, 2012, for capital expenditures on the Creole Trail Pipeline and for general corporate purposes. Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are serving as representatives to the underwriters in the offering.
[mappress] LNG World News Staff, July 17, 2012