HOUSTON, Feb. 26, 2015 /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 2025 (the "SPL 2025 Notes"). The principal amount of the
offering has been increased from the initially announced
$1.0 billion to $2.0 billion. The SPL
2025 Notes will bear interest at a rate of 5.625% per annum and
will mature on March 1, 2025. The SPL
2025 Notes are priced at par. The closing of the offering of the
SPL 2025 Notes is expected to occur on March
3, 2015.
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
to pay fees and expenses associated with the offering. In
connection with the offering, Sabine Pass Liquefaction will reduce
commitments on a ratable basis under its four credit facilities
totaling approximately $2.7 billion
(collectively, the "2013 Liquefaction Credit Facilities"). The SPL
2025 Notes will rank pari passu in right of payment with all
existing and future senior secured indebtedness of Sabine Pass
Liquefaction, including borrowings under the 2013 Liquefaction
Credit Facilities, its outstanding senior secured notes due 2021,
senior secured notes due 2022, senior secured notes due 2023, and
senior secured notes due 2024 and its obligations under the senior
letter of credit and reimbursement agreement.
The offer of the SPL 2025 Notes has not been registered under
the Securities Act of 1933, as amended (the "Securities Act") and
the SPL 2025 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.
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SOURCE Cheniere Energy Partners, L.P.