US LNG exporter Venture Global LNG has closed its $1.5 billion offering of senior secured notes.
The 7 percent senior secured notes will mature on January 15, 2030 and were issued at par, according to Venture Global.
Also, the firm said the notes were secured on a pari passu basis by a first-priority security interest in substantially all of the existing and future assets of Venture Global and the future guarantors, if any, subject to customary exclusions.
Venture Global said the notes were not registered under the Securities Act of 1933, or the securities laws of any state or other jurisdictions, and the notes may not be offered or sold in the US.
In November last year, Venture Global closed its $1 billion offering of senior secured notes.
The firm said at the time that this offering takes Venture Global’s total year-to-date high yield debt raised to $9.5 billion, which marks the “largest US dollar high yield issuance by volume in a single year since 2015”.
LNG export terminals
Venture Global currently exports LNG via its 10 mtpa Calcasieu Pass liquefaction plant in Louisiana, which is still in the commissioning phase.
The firm is also working to launch production at its Plaquemines LNG export terminal in Louisiana.
Venture Global took a final investment decision in May 2022 on the first phase of the Plaquemines project with a capacity of 13.3 mtpa and the related pipeline. It also secured $13.2 billion in project financing.
In March last year, the company sanctioned the second phase of the Plaquemines LNG export plant in Louisiana and also secured $7.8 billion in project financing.
The full project, including the second stage, will have a capacity of 20 mtpa coming from 36 modular units, configured in 18 blocks.
Last month, the US Pipeline and Hazardous Materials Safety Administration (PHMSA) last month gave the green light to Venture Global LNG for its proposed Plaquemines LNG uprate project.
In addition to these projects, the US FERC has recently given the green light to Venture Global for its proposed CP2 LNG project in Louisiana.
The CP2 LNG plant will be located next to Venture Global’s existing Calcasieu Pass liquefaction plant.
It will have 18 liquefaction blocks, each with a capacity of about 1.1 mtpa of LNG, and also four 200,000-cbm full containment LNG storage tanks.
Besides the FERC approval, CP2 LNG also needs the non-FTA export authorization from the US Department of Energy.