HOUSTON, Sept. 19, 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 2027 (the "SPL 2027 Notes").
The principal amount of the offering has been increased from the
initially announced $1.0 billion to $1.5
billion. The SPL 2027 Notes will bear interest at a rate of
5.00% per annum and will mature on March 15,
2027. The SPL 2027 Notes are priced at par. The closing of
the offering of the SPL 2027 Notes is expected to occur on
September 23, 2016.
SPL intends to use the net proceeds from the offering (after
deducting the initial purchasers' commissions, estimated fees and
expenses and incremental interest during construction related to
the SPL 2027 Notes) to prepay all of the principal amounts
currently outstanding under SPL's credit facilities (the "2015 SPL
Credit Facilities") and pay capital costs in connection with the
construction of the first five trains of its natural gas
liquefaction facility currently under construction in Cameron Parish, Louisiana. In connection with
the offering, SPL will reduce commitments on a ratable basis under
its 2015 SPL Credit Facilities. The SPL 2027 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, senior secured notes due 2025, and
senior secured notes due 2026 and its obligations under its working
capital facility.
The offer of the SPL 2027 Notes has not been registered under
the Securities Act of 1933, as amended (the "Securities Act") and
the SPL 2027 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.