Chadbourne & Parke law firm said it represented the lenders on the US$4.025 billion financing of Train Two of the Freeport LNG liquefaction and export project at Quintana Island near Freeport, Texas.
The Freeport LNG liquefaction project is an approximately US$11 billion project, making it the largest fully non-recourse construction financing project ever.
The train two financing closed on November 25 and includes US$4.025 billion in debt financing and US$1.3 billion of equity financing. The debt financing is being provided by 25 commercial banks and financial institutions under a seven-year mini-perm debt facility. The equity funding is being provided by IFM Investors.
Train two has a design capacity of 4.64 million tons per year, is being constructed by CB&I and Zachry Industrial and has a take-or-pay liquefaction tolling agreements with BP Energy Company.
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Press Release; Image: Freeport LNG