Cheniere increases notes offering to $1.5 bn

Cheniere increases notes offering to $1.5 bn
Image courtesy of Cheniere

Houston-based LNG player Cheniere upsized the senior secured notes offering by its Cheniere Corpus Christi Unit. 

Initially, the company planned on offering US$1 billion notes due 2027, however, according to the company’s latest statement, it has increased the offering up to $1.5 billion.

The CCH 2027 Notes will bear interest at a rate of 5.125% per annum and will mature on June 30, 2027.

The company expects to close the offering on May 19, 2017, the statement reads.

Cheniere¬†intends to use the net proceeds from the offering to prepay a portion of the principal amounts currently outstanding under CCH’s term loan credit facility.

Cheniere is developing a natural gas liquefaction and export project near Corpus Christi, Texas, consisting of three trains each with a nominal production capacity of approximately 4.5 mtpa of LNG.

Trains 1 and 2 are under construction, and Train 3 is being commercialized and has all necessary regulatory approvals in place.

 

LNG World News Staff

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