Venture Global in $2.25 billion senior notes offering

The company’s unit Venture Global LNG has priced $1.125 billion aggregate principal amount of its 6.375 percent senior secured notes due 2034 and $1.125 billion aggregate principal amount of its 6.625 percent senior secured notes due 2036, in a private offering.

Venture Global intends to use the gross proceeds from the offering to redeem all of its outstanding 8.125 percent senior secured notes due 2028 and to use cash on hand to pay the redemption premium and related fees and expenses for the offering and the redemption.

According to the company, the redemption of the existing 2028 notes is expected to be “conditioned on the closing of the offering, after the date hereof and on or prior to the redemption date, generating sufficient gross proceeds no less than the aggregate principal amount of the existing 2028 notes to be redeemed.”

The offering is expected to close on June 11, 2026, subject to customary closing conditions.

Venture Global added that the offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering may be completed.

The company’s unit Venture Global Calcasieu Pass recently closed its $750 million offering of senior secured notes.

In April last year, Venture Global launched commercial operations at its Calcasieu Pass LNG terminal, some 68 months from its final investment decision and 38 months after production start.

In addition, Venture Global is building the CP2 LNG plant next to the Calcasieu Pass plant, where it plans to add more trains due to high demand, as well as the Plaquemines LNG facility.

The company shipped a total of 130 LNG cargoes from its Calcasieu Pass and Plaquemines LNG export terminals in the first quarter of this year.