Cheniere’s unit offering $800 million in senior notes

US LNG export player Cheniere said Friday its unit Sabine Pass Liquefaction intends to offer $800 million senior secured notes due 2037.

Sabine Pass Liquefaction would enter into a note purchase agreement to issue and sell $800 million principal amount of 5.00% senior secured notes due 2037 in a private placement, the statement reads.

Sabine Pass Liquefaction plans to use the net proceeds from the offering to prepay all of the principal amounts under its credit facilities and to pay capital costs in connection with the construction of Trains 1 through 5 of the Sabine Pass LNG export project in Lousiana.

The company expects to close the transaction and issue the notes on Friday, February 24.