Sabine Pass Liquefaction LLC, a subsidiary of Cheniere Energy Partners LP (NYSE: CQP), intends to offer $1 billion senior secured notes due 2025, the company said in a Feb. 26 release.
Proceeds will be used to pay capital costs for the construction of the first four liquefaction trains at Sabine Pass' facility in Cameron Parish, La., and to pay fees and expenses associated with the offering.
In connection with the offering, Sabine Pass will reduce commitments on a ratable basis under its four credit facilities totaling about $2.7 billion—collectively the 2013 liquefaction credit facilities.
The notes will rank pari passu in right of payment with all existing and future senior secured indebtedness of Sabine Pass, including borrowings under the 2013 liquefaction credit facilities, its outstanding notes due 2021, notes due 2022, notes due 2023 and notes due 2024 and its obligations under the senior letter of credit and reimbursement agreement.
Recommended Reading
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.
Chevron Hunts Upside for Oil Recovery, D&C Savings with Permian Pilots
2024-02-06 - New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.
Texas Earthquake Could Further Restrict Oil Companies' Saltwater Disposal Options
2024-04-12 - The quake was the largest yet in the Stanton Seismic Response Area in the Permian Basin, where regulators were already monitoring seismic activity linked to disposal of saltwater, a natural byproduct of oil and gas production.
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
NAPE: Turning Orphan Wells From a Hot Mess Into a Hot Opportunity
2024-02-09 - Certain orphaned wells across the U.S. could be plugged to earn carbon credits.