USA: Cheniere to Sell 31 Million Shares

Cheniere to Sell 31 Million Shares

LNG player Cheniere Energy of USA said today that it has entered into a definitive agreement with institutional investors to sell 31,000,000 shares of its common stock at a negotiated price per share of $15.10.

The offering is expected to close and settle on May 10, 2012.

The company intends to use the net proceeds from the offering of approximately $467.9 million to invest in Cheniere Energy Partners, in exchange for equity securities anticipated to be issued in connection with the financing of Cheniere Partners’ proposed Sabine Pass liquefaction project.

LNG World News Staff, May 7, 2012