Cheniere Energy Partners, L.P. announced that its wholly owned subsidiary, Sabine Pass Liquefaction, LLC, has engaged 17 financial institutions to act as Joint Lead Arrangers to assist in the structuring and arranging of credit facilities.
The Credit Facilities will be used to fund the remaining debt portion needed for the costs of developing, constructing and placing into service the first four trains of the liquefaction project being developed adjacent to the Sabine Pass LNG terminal and for general business purposes. Cheniere will amend and upsize the existing Term Loan A Credit Facility that was entered into last year for the financing of the first two trains, extending the available capacity to accommodate four liquefaction trains.
Obtaining debt financing is one of the last steps to complete before proceeding with construction of Trains 3 and 4 of the liquefaction project. Closing of the Credit Facilities and issuing a notice to proceed to Bechtel Oil, Gas and Chemicals, Inc. for Trains 3 and 4 is expected to occur within the upcoming weeks.
[mappress] LNG World News Staff, May 22, 2013