Sabine Pass Liquefaction to Offer USD 1 Billion of Senior Secured Notes
Cheniere Energy Partners announced that its wholly owned subsidiary, Sabine Pass Liquefaction, intends to offer, subject to market and other conditions, $1.0 billion principal amount of Senior Secured Notes due 2022.
Sabine Liquefaction intends to use the net proceeds from the offering to pay capital costs in connection with the construction of the first four liquefaction trains at its facility in Cameron Parish, Louisiana and fees and expenses incurred associated with the offering.
The net proceeds will be used to reduce commitments on a ratable basis under Sabine Liquefaction’s four credit facilities totaling $5.9 billion.
The SPL 2022 Notes are pari passu in right of payment with all existing and future senior indebtedness of Sabine Liquefaction, including borrowings under the 2013 Liquefaction Credit Facilities and its outstanding senior secured notes due 2021 and 2023.
LNG World News Staff, November 18, 2013; Image: Cheniere