Chadbourne represents lenders on Sabine Pass Train 5 financing

New York-based law firm Chadbourne represented the lenders on a US$4.6 billion financing that will include Train 5 of the Sabine Pass Liquefaction LNG export project located at the existing import terminal in Cameron Parish, Louisiana. 

The project financing includes US$2.85 billion of senior secured debt facilities from a syndicate of 25 commercial banks and other financial institutions, US$600 million of senior secured debt facilities from the Export-Import Bank of Korea, US$400 million of senior secured debt facilities from a syndicate of Korean-based commercial banks supported by a guarantee from KEXIM, and US$750 million of senior secured debt facilities from a syndicate of Korean-based commercial banks supported by an insurance policy from Korea Trade Insurance Corporation.

The financing closed on June 30, 2015.

The borrower, Sabine Pass Liquefaction, an indirect wholly-owned of Cheniere Energy, expects to construct up to six liquefaction trains, which are in various stages of development.

Each liquefaction train is expected to have a nominal production capacity of approximately 4.5 mtpa.

Image: Cheniere