Cheniere Partners Announces Pricing of $1.1 Billion Senior Notes Due 2026
September 06 2018 - 4:20PM
Business Wire
Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE
American: CQP) announced today that it has priced its previously
announced offering of $1.1 billion principal amount of Senior Notes
due 2026 (the "CQP 2026 Notes"). The CQP 2026 Notes will bear
interest at a rate of 5.625% per annum and will mature on October
1, 2026. The CQP 2026 Notes are priced at par, and the closing of
the offering is expected to occur on September 11, 2018.
Cheniere Partners intends to use the net proceeds from the
offering, after deducting the initial purchasers’ discounts and
commissions and estimated fees and expenses related to the CQP 2026
Notes, to prepay all of the outstanding term loans of approximately
$1.1 billion under its senior secured credit facilities due 2020
(the “CQP Credit Facilities”). After applying the proceeds from
this offering, only a $115 million working capital facility, which
is currently undrawn, will remain as part of the CQP Credit
Facilities, and both the CQP 2026 Notes and Cheniere Partners’
outstanding senior notes due 2025 will become unsecured.
The offer of the CQP 2026 Notes has not been registered under
the Securities Act of 1933, as amended (the "Securities Act") and
the CQP 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 or present facts or conditions, 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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version on businesswire.com: https://www.businesswire.com/news/home/20180906005924/en/
Cheniere Energy Partners, L.P.InvestorsRandy Bhatia, 713-375-5479Megan Light,
713-375-5492orMedia RelationsEben
Burnham-Snyder, 713-375-5764
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