HOUSTON, May 13, 2014 /PRNewswire/ -- Cheniere Energy
Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced
today that its wholly owned subsidiary, Sabine Pass Liquefaction,
LLC ("Sabine Pass Liquefaction"), has upsized and priced its
previously announced offering of Senior Secured Notes due 2024
("SPL 2024 Notes"). The principal amount of the offering has been
increased from the initially announced $1.5
billion to $2.0 billion. The SPL 2024 Notes will bear
interest at a rate of 5.75% per annum and will mature on
May 15, 2024. The SPL 2024 Notes are
priced at par. The closing of the offering is expected to occur on
May 20, 2014.
Sabine Pass Liquefaction intends to use the net proceeds from
the offering to pay capital costs in connection with the
construction of the first four liquefaction trains at its facility
in Cameron Parish, Louisiana, to
repay certain outstanding indebtedness under Sabine Pass
Liquefaction's four credit facilities (collectively, the "2013
Liquefaction Credit Facilities"), and to pay fees and expenses
incurred associated with the offering. The commitments under the
2013 Liquefaction Credit Facilities will be reduced on a ratable
basis by an amount equal to the net proceeds of the notes after
repayment of such certain outstanding indebtedness. The SPL 2024
Notes are pari passu in right of payment with all existing and
future senior indebtedness of Sabine Pass Liquefaction, including
borrowings under the 2013 Liquefaction Credit Facilities, its
outstanding senior secured notes due 2021, 2022, and 2023, and
obligations under the Senior Letter of Credit and Reimbursement
Agreement.
The offer of the SPL 2024 Notes has not been registered under
the Securities Act of 1933, as amended (the "Securities Act") and
the SPL 2024 Notes may not be offered or sold in the United States absent registration under
the Securities Act or an applicable exemption from the registration
requirements of the Securities Act. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale of these securities would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Forward-Looking Statements
This press release contains certain statements that may include
"forward-looking statements" within the meanings of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are "forward-looking statements."
Included among "forward-looking statements" are, among other
things, statements regarding Cheniere Partners' business strategy,
plans and objectives, including the use of proceeds from the
offering. Although Cheniere Partners believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Cheniere Partners' actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in Cheniere Partners' periodic reports
that are filed with and available from the Securities and Exchange
Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Other than as required under the securities laws,
Cheniere Partners does not assume a duty to update these
forward-looking statements.
SOURCE Cheniere Energy Partners, L.P.