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Cheniere Partners to launch USD1.0bn senior secured notes.

M2 EQUITYBITES-June 9, 2016-Cheniere Partners to launch USD1.0bn senior secured notes


Regasification facility operator Cheniere Energy Partners (NYSE MKT:CQP) said on Wednesday that it plans to issue USD1.0bn principal amount of senior secured notes due 2026 (the SPL 2026 notes).

This offering has been initiated by the company's wholly owned subsidiary, Sabine Pass Liquefaction LLC (SPL), subject to market and other conditions,

Net proceeds from the planned offering may be used to prepay a portion of the principal amounts currently outstanding under SPL's 2015 credit facilities as well as to pay its fees and expenses.

The company stated that the SPL 2026 notes will rank pari passu in right of payment with all its existing and future senior secured indebtedness, including borrowings under the 2015 SPL credit facilities, its outstanding senior secured notes due 2021, senior secured notes due 2022, senior secured notes due 2023, senior secured notes due 2024 and senior secured notes due 2025, as well as its obligations under its working capital facility.

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Publication:M2 EquityBites (EQB)
Date:Jun 9, 2016
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