HOUSTON, Jan. 25, 2016 /PRNewswire/ -- Cheniere
Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP)
announced today that it has engaged 13 financial institutions to
act as Joint Lead Arrangers, Mandated Lead Arrangers (collectively
the "Arrangers") and other participants to assist in the
structuring and arranging of senior secured credit facilities in an
aggregate principal amount of up to approximately $2.8 billion. Proceeds from these new credit
facilities are intended to be used by Cheniere Partners to prepay
the $400 million senior secured term
loan at Cheniere Creole Trail Pipeline, L.P. ("CCTP"), redeem or
repay the approximately $1.7 billion
senior secured notes due 2016 and the $420
million senior secured notes due 2020 that were issued by
Sabine Pass LNG, L.P. ("SPLNG"), pay associated transaction fees,
expenses, and make-whole amounts, if applicable, and for general
business purposes of Cheniere Partners and its subsidiaries. SPLNG
and CCTP are both wholly-owned subsidiaries of Cheniere
Partners.
The 13 Arrangers and other participants are The Bank of
Tokyo-Mitsubishi UFJ, Ltd., ABN AMRO Capital USA LLC, Société Générale, Industrial and
Commercial Bank of China Limited, New
York Branch, Intesa Sanpaolo, S.P.A. New York Branch, JPMorgan Chase Bank, N.A.,
Mizuho Bank, Ltd., Sumitomo Mitsui
Banking Corporation, Morgan Stanley Senior Funding, Inc., Bank of
America, N.A., Credit Suisse, HSBC Bank USA, N.A. and Commonwealth Bank of
Australia.
"Cheniere Partners is pleased to have the continued support of
its key relationship banks for this refinancing. Upon closing of
this transaction and after subsequent repayment of our outstanding
CCTP and SPLNG obligations, the earliest debt maturity at Cheniere
Partners will be in 2020," said Neal
Shear, Chairman of the Board and interim CEO of Cheniere
Partners.
Through SPLNG, Cheniere Partners owns 100 percent of the Sabine
Pass LNG terminal located on the Sabine-Neches Waterway less than
four miles from the Gulf Coast. The Sabine Pass LNG terminal
includes existing infrastructure of five LNG storage tanks with
capacity of approximately 16.9 billion cubic feet equivalent
(Bcfe), two docks that can accommodate vessels with nominal
capacity of up to 266,000 cubic meters and vaporizers with
regasification capacity of approximately 4.0 Bcf/d. Cheniere
Partners also owns a 94-mile pipeline that interconnects the Sabine
Pass LNG terminal with a number of large interstate pipelines, (the
"Creole Trail Pipeline"). The Creole Trail Pipeline is owned by
CCTP.
Cheniere Partners, through its subsidiary, Sabine Pass
Liquefaction, LLC ("SPL"), is developing and constructing natural
gas liquefaction facilities at the Sabine Pass LNG terminal
adjacent to the existing regasification facilities. Cheniere
Partners, through SPL, plans to construct over time up to six
liquefaction trains, which are in various stages of development.
Each liquefaction train is expected to have a nominal production
capacity of approximately 4.5 million tonnes per annum ("mtpa") of
LNG. SPL has entered into six third-party LNG sale and purchase
agreements ("SPAs") that in the aggregate equate to approximately
19.75 mtpa of LNG and commence with the date of first commercial
delivery of Trains 1 through 5 as specified in the respective SPAs.
For additional information, please refer to the Cheniere Partners
website at www.cheniere.com and Cheniere Partners' Quarterly Report
on Form 10-Q for the quarter ended September
30, 2015, filed with the Securities and Exchange
Commission.
This press release contains certain statements that may include
"forward-looking statements." All statements, other than statements
of historical facts, included herein are "forward-looking
statements." Included among "forward-looking statements" are, among
other things, (i) statements regarding Cheniere
Partners' business strategy, plans and objectives, including
the development, construction and operation of liquefaction
facilities, (ii) statements regarding expectations regarding
regulatory authorizations and approvals, (iii) statements
expressing beliefs and expectations regarding the development
of Cheniere Partners' LNG terminal and liquefaction
business, (iv) statements regarding the business operations and
prospects of third parties, (v) statements regarding potential
financing arrangements, and (vi) statements regarding future
discussions and entry into contracts. 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.