USA: Cheniere Partners to Sell Common Units

Cheniere Partners to Sell Common Units

Cheniere Energy Partners said that it has entered into a purchase agreement with institutional investors to sell approximately 17.6 million common units for net proceeds, after deducting expenses, of approximately $372.2 million, which includes the general partner’s proportionate capital contribution of approximately $7.4 million to maintain its 2% general partner interest.

Investors primarily include affiliates of RRJ Capital and GSO Capital. The offering is expected to close and settle on March 1, 2013.

Cheniere Partners intends to use the proceeds from the offering for costs associated with the liquefaction project being developed adjacent to the existing Sabine Pass LNG terminal and general business purposes.

LNG World News Staff, February 25, 2013