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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