USA: Cheniere to Raise Up to USD 4 Billion in Debt for Sabine Pass Liquefaction Project
Cheniere Energy Partners said today that it has engaged eight financial institutions to act as Joint Lead Arrangers to assist in the structuring and arranging of up to $4 billion of debt facilities.
The proceeds will be used to pay for costs of development and construction of the liquefaction project at the Sabine Pass LNG terminal, to fund the acquisition of the Creole Trail Pipeline from Cheniere Energy, and for general business purposes. As previously disclosed, estimated capital costs before financing for the first two trains of the liquefaction project of $4.5 billion to $5.0 billion are expected to be funded from a combination of debt and equity financings.
The eight Arrangers are The Bank of Tokyo-Mitsubishi UFJ, Ltd., Credit Agricole Corporate and Investment Bank, Credit Suisse Securities (USA) LLC, HSBC, J.P. Morgan Securities LLC, Morgan Stanley, RBC Capital Markets, and SG Americas Securities, LLC.
“Obtaining financing is one of the last steps to complete before proceeding with the construction of the first two liquefaction trains being developed at the Sabine Pass LNG terminal,” said Charif Souki, Chairman and CEO. “We have engaged an experienced group of financial institutions as our core banking group and look forward to completing the financing for the project in due course.”
LNG World News Staff, April 16, 2012