Cheniere in $1.5 billion senior notes offering

US LNG exporting giant Cheniere has priced its $1.5 billion offering of senior notes due 2034.

Cheniere said in a statement the 2034 notes will bear interest at a rate of 5.650 percent per annum.

Also, the notes will be issued at 99.789 percent of par and will mature on April 15, 2034.

Cheniere expects the closing of the offering to occur on March 19.

It intends to use the proceeds from the offering to retire all or a portion of the $1.5 billion outstanding aggregate principal amount of Cheniere Corpus Christi Holdings, LLC’s senior secured notes due 2025.

The Houston-based firm 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.

Cheniere added that this announcement does not constitute an offer to purchase or a solicitation of an offer to sell the CCH 2025 notes or a notice of redemption under the indenture governing the CCH 2025 notes.

The 2034 notes will rank pari passu in right of payment with existing senior notes at Cheniere, including the senior notes due 2028.

Cheniere expanding capacity

Cheniere is the largest LNG exporter in the US.

The company’s Sabine Pass facility in Louisiana currently has a capacity of about 30 mtpa following the launch of the sixth train in February 2022, while Cheniere’s three-train Corpus Christi plant in Texas can produce about 15 mtpa of LNG and is undergoing expansion to add more than 10 mtpa of capacity.

Besides this expansion, Cheniere plans to build two more liquefaction trains as part of the third expansion phase at the Corpus Christi plant.

In addition, Cheniere also aims to build two new liquefaction trains as part of the Sabine Pass Stage 5 expansion project to add up to 20 mtpa of capacity to the giant facility.

Most Popular

McDermott bags Monkey Island LNG gig

Houston-based McDermott has secured a contract from Monkey Island LNG for its planned natural gas liquefaction facility in Cameron Parish, Louisiana.

Gazprom supplying gas from Kaliningrad FSRU

Gas giant Gazprom has completed tests at its 174,000-cbm FSRU Marshal Vasilevskiy off Russia's Kaliningrad, located between Lithuania and Poland. The firm said...

GTT develops new LNG fuel tank

French LNG containment giant GTT has developed a new cubic-shaped LNG fuel tank for commercial vessels, with a particular focus on LNG-fueled container vessels.

More News Like This

Cheniere clinches Botas LNG supply deal

Turkiye’s state-owned natural gas and LNG firm Botas has signed a deal to buy liquefied natural gas from US LNG exporting giant Cheniere. Botas also signed deals with SEFE, Equinor, and jera.

Cheniere’s Corpus Christi expansion project almost 88 percent complete

The Stage 3 expansion project at Cheniere’s Corpus Christi LNG export plant in Texas is almost 88 percent complete, while Cheniere has also started site preparation activities for two more midscale trains.

Trafigura, Kogas seal long-term US LNG supply deal

LNG trader Trafigura has signed a long-term deal to supply US LNG to South Korean importer Kogas.

Cheniere nears first LNG at third Corpus Christi expansion train

US LNG exporter Cheniere is nearing the start of LNG production at the third train of the Corpus Christi Stage 3 expansion project in Texas as part of the commissioning phase.