Cheniere Partners Announces Upsize and Pricing of $1.5 Billion Senior Notes due 2029
September 09 2019 - 5:04PM
Business Wire
Cheniere Energy Partners, L.P. ("Cheniere
Partners") (NYSE American: CQP) announced today that it has upsized
and priced its previously announced offering of Senior Notes due
2029 (the "CQP 2029 Notes"). The principal amount of the offering
has been increased from the initially announced $1.0 billion to
$1.5 billion. The CQP 2029 Notes will bear interest at a rate of
4.500% per annum and will mature on October 1, 2029. The CQP 2029
Notes are priced at par, and the closing of the offering is
expected to occur on September 12, 2019.
Cheniere Partners intends to use the proceeds from the offering
to prepay all of the outstanding term loans under its senior
secured credit facilities due 2024 (the “CQP Credit Facilities”)
and for general corporate purposes, including funding future
capital expenditures in connection with the construction of Train 6
at the Sabine Pass liquefaction project. After applying the
proceeds from this offering, only a $750 million revolving credit
facility will remain as part of the CQP Credit Facilities, which is
undrawn. The CQP 2029 Notes will rank pari passu in right of
payment with the existing senior notes at CQP, including the senior
notes due 2025 and senior notes due 2026.
The offer of the CQP 2029 Notes has not been registered under
the Securities Act of 1933, as amended (the "Securities Act") and
the CQP 2029 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/20190909005934/en/
Cheniere Energy Partners, L.P. Investors Randy Bhatia,
713-375-5479 Megan Light, 713-375-5492 or Media Relations Eben
Burnham-Snyder, 713-375-5764 Jenna Palfrey, 713-375-5491
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