HOUSTON, May 15, 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"), intends to offer, subject to
market and other conditions, $500
million principal amount of Senior Secured Notes due 2023
("SPL 2023 Notes"). The SPL 2023 Notes will constitute a further
issuance of and will form a single series with the 5.625% Senior
Secured Notes due 2023 ("Outstanding 2023 Notes") that were issued
by Sabine Pass Liquefaction on April 16,
2013.
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 and
fees and expenses incurred associated with the offering. The
commitments under Sabine Pass Liquefaction's four credit facilities
(collectively, the "2013 Liquefaction Credit Facilities") will be
reduced on a ratable basis by an amount equal to the net proceeds
of the notes. The SPL 2023 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, 2023, its 2024 notes that are expected to be issued on
May 20, 2014 and obligations under
the Senior Letter of Credit and Reimbursement Agreement.
The offer of the SPL 2023 Notes has not been registered under
the Securities Act of 1933, as amended (the "Securities Act") and
the SPL 2023 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.