Sabine Pass Liquefaction LLC, a subsidiary of Cheniere Energy Partners LP (NYSE: CQP), intends to offer $1 billion senior secured notes due 2025, the company said in a Feb. 26 release.
Proceeds will be used to pay capital costs for the construction of the first four liquefaction trains at Sabine Pass' facility in Cameron Parish, La., and to pay fees and expenses associated with the offering.
In connection with the offering, Sabine Pass will reduce commitments on a ratable basis under its four credit facilities totaling about $2.7 billion—collectively the 2013 liquefaction credit facilities.
The notes will rank pari passu in right of payment with all existing and future senior secured indebtedness of Sabine Pass, including borrowings under the 2013 liquefaction credit facilities, its outstanding notes due 2021, notes due 2022, notes due 2023 and notes due 2024 and its obligations under the senior letter of credit and reimbursement agreement.
Recommended Reading
Integrated RNG: Nopetro Energy on Creating a Circular Economic Model
2024-05-01 - Working with municipalities, Nopetro Energy aims to produce 2 million MMBtu of RNG annually.
Archaea to Convert Landfill Gas to RNG in New Kansas Plant
2024-04-30 - Archaea Energy’s plant in Shawnee, Kansas, will capture gas from a nearby landfill and convert it to renewable natural gas.
Markman: Want CO2 Gone Now? Well, You Don’t Always Get What You Want
2024-04-29 - A slew of scenarios shows that climate goals can be achieved with the use of fossil fuels and CCUS.
G7 Reaches Deal to Exit from Coal by 2035
2024-04-29 - The accord will be included in the G7 energy ministers' final communique to be released on April 30.