HOUSTON, June 8, 2016 /PRNewswire/ -- Cheniere Energy
Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced
today that its wholly owned subsidiary, Sabine Pass Liquefaction,
LLC ("SPL"), has upsized and priced its previously announced
offering of Senior Secured Notes due 2026 (the "SPL 2026 Notes").
The principal amount of the offering has been increased from the
initially announced $1.0 billion to $1.5
billion. The SPL 2026 Notes will bear interest at a rate of
5.875% per annum and will mature on June 30,
2026. The SPL 2026 Notes are priced at par. The closing of
the offering of the SPL 2026 Notes is expected to occur on
June 14, 2016.
SPL intends to use the net proceeds from the offering to prepay
a portion of the principal amounts currently outstanding under
SPL's credit facilities (the "2015 SPL Credit Facilities") and to
pay fees and expenses associated with the offering. The SPL 2026
Notes will rank pari passu in right of payment with all existing
and future senior secured indebtedness of SPL, 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 and its obligations under its working
capital facility.
The offer of the SPL 2026 Notes has not been registered under
the Securities Act of 1933, as amended (the "Securities Act") and
the SPL 2026 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." 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.