HOUSTON, Feb. 24, 2017 /PRNewswire/ -- Cheniere
Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP)
announced today that its wholly owned subsidiary, Sabine Pass
Liquefaction, LLC ("SPL"), intends to enter into a Note Purchase
Agreement to issue and sell $800
million principal amount of 5.00% Senior Secured Notes due
2037 (the "SPL 2037 Notes") in a private placement. SPL expects to
close the transaction and issue the SPL 2037 Notes on February 24, 2017.
The SPL 2037 Notes will be fully amortizing according to a fixed
sculpted amortization schedule and have a weighted average life of
approximately 15.2 years. Amortization of the SPL 2037 Notes will
be deferred for the first approximately 8.6 years until 2025.
SPL intends to use the net proceeds from the offering (after
deducting the estimated fees, expenses and incremental interest
during construction related to the SPL 2037 Notes) to prepay all of
the principal amounts currently outstanding under SPL's credit
facilities (the "2015 SPL Credit Facilities") and to pay capital
costs in connection with the construction of Trains 1 through 5 of
the Sabine Pass Liquefaction Project. The SPL 2037 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,
senior secured notes due 2026, senior secured notes due 2027 and
its obligations under its working capital facility.
The offer of the SPL 2037 Notes has not been registered under
the Securities Act of 1933, as amended (the "Securities Act") and
the SPL 2037 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. The SPL 2037 Notes will be
offered and sold in a private placement conducted pursuant to
Section 4(a)(2) 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.