Latham & Watkins advised JBIC, Nippon Export and Investment Insurance and a group of 29 commercial banks on the US$7.4 billion debt financing for the Cameron liquefaction project in Hackberry, Louisiana.
The financing consisted of a JBIC loan of US$2.5 billion and a commercial bank loan of US$4.9 billion, with NEXI providing insurance for US$2 billion of the commercial bank tranche.
The project, with a total cost of approximately US$10 billion, is being developed by Sempra, GDF Suez Mitsui and Japan LNG Investment, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabashiki Kaisha (NYK), and will consist of three liquefaction trains capable of exporting up to 12 million tonnes per annum of liquefied natural gas.
Press Release, October 9, 2014; Image: Latham & Watkins