Houston-based LNG player, Cheniere Energy informed its unit Sabine Pass Liquefaction intends to offer US$1 billion senior secured notes due 2026.
According to the company’s statement, Sabine Pass Liquefaction intends to use the net proceeds from the offering to prepay a portion of the principal amounts currently outstanding under SPL’s credit facilities and to pay fees and expenses associated with the offering.
The SPL 2026 notes will rank pari passu in right of payment with all existing and future senior secured indebtedness of SPL, including borrowings under the 2015 SPL credit facilities, its outstanding senior secured notes due from 2021 to 2025 and its obligations under its working capital facility, Cheniere said.
Earlier in May, Cheniere Energy made a similar offering of $1 billion principal amount of Corpus Christy Holdings senior secured notes due 2024.