Sabine Pass LNG Closes USD 420 Million Private Placement, USA
Cheniere Energy announced that its wholly owned subsidiary, Sabine Pass LNG (SPLNG), closed a private placement of $420 million aggregate principal amount of its 6.5% Senior Secured Notes due 2020.
SPLNG intends to use the net proceeds from this offering plus a portion of the net proceeds from the recently closed equity offering of Cheniere Partners’ common units to fund its tender offer for its 7.25% Senior Secured Notes due 2013.
The 2020 Notes were offered in a private placement and will be resold by the initial purchasers to qualified institutional buyers under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).
LNG World News Staff, October 17, 2012; Image: Cheniere