USA: Sabine Pass Liquefaction to Offer Senior Secured Notes

Cheniere Energy Partners said that its wholly owned subsidiary, Sabine Pass Liquefaction, intends to offer, $0.5 billion principal amount of Senior Secured Notes due 2021 (SPL 2021 Notes) and $1.0 billion principal amount of Senior Secured Notes due 2023 (SPL 2023 Notes).

The SPL 2021 Notes will constitute a further issuance of and will form a single series with the 5.625% Senior Secured Notes due 2021 (Outstanding 2021 Notes) that were issued by Sabine Liquefaction on February 1, 2013.

Sabine Liquefaction intends to use the net proceeds from the offering to pay capital costs in connection with the construction of the first two LNG liquefaction trains at its facility in Cameron Parish, Louisiana and fees and expenses incurred associated with the offering.

The net proceeds will be used in lieu of a portion of Sabine Liquefaction’s $3.6 billion Term Loan A Credit facility.

The Notes are pari passu in right of payment with all existing and future Senior Debt of Sabine Liquefaction, including borrowings under the Term Loan A Credit facility and its Outstanding 2021 Notes.

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LNG World News Staff, April 10, 2013; Image: Cheniere