Venture Global LNG wraps up $2.5 billion bond offering

US liquefaction plant developer Venture Global LNG said it has completed its $2.5 billion offering of senior secured notes.

The company’s unit Venture Global Calcasieu Pass issued the notes in two series.

The first is a series of 3.875% senior secured notes due 2029 in the amount of $1.25 billion and the second includes 4.125% senior secured notes due 2031 worth $1.25 billion.

Moreover, the 2029 notes will mature on August 15, 2029 while the 2031 notes will mature on August 15, 2031, according to Venture Global LNG.

Venture Global Calcasieu Pass aims to use the net proceeds from the offering to prepay certain amounts outstanding under its existing senior secured first lien credit facilities.

In addition, it also plans to pay breakage and hedge termination costs in connection with such prepayment and pay fees and expenses in connection with the offering.

Venture Global LNG said earlier this year that it could start first exports from its Calcasieu Pass LNG facility in Louisiana by the end of this year with full operations planned in mid-2022.

The firm also plans to take a final investment decision on its Plaquemines LNG project this year.

Both of the projects recently received a boost after Poland’s PGNiG agreed to buy more LNG under its existing contracts.

As a result, PGNiG’s contracted volume from Venture Global LNG would increase to 5.5 million mt or 7.4 bcm of gas per year.

Most Popular

Venture Global withdraws Delta LNG application

US LNG exporter Venture Global LNG is withdrawing its FERC application for the proposed 24.4 mtpa Delta LNG export facility in Louisiana. Instead, Venture Global will focus on expanding its Plaquemines LNG export facility in Louisiana.

Cheniere aims to start construction on Sabine Pass LNG expansion in late 2026

US LNG exporting giant Cheniere aims to start construction on the proposed expansion project at its Sabine Pass LNG export facility in Louisiana in late 2026.

Delfin seeks new DOE extension, eyes FID on first FLNG in August

Delfin Midstream, the US developer of a floating LNG export project offshore Louisiana, is seeking an additional extension from the US Department of Energy. The company is looking to make a final investment decision on the first FLNG in August.

More News Like This

Venture Global withdraws Delta LNG application

US LNG exporter Venture Global LNG is withdrawing its FERC application for the proposed 24.4 mtpa Delta LNG export facility in Louisiana. Instead, Venture Global will focus on expanding its Plaquemines LNG export facility in Louisiana.

Venture Global’s Plaquemines LNG to commission third jetty

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce hazardous fluids to the third jetty at its Plaquemines LNG export plant in Louisiana.

Venture Global kicks off CP2 LNG site work

US LNG exporter Venture Global said it had initiated full mobilization and started site work at the company’s third LNG export facility, CP2 LNG.

Venture Global’s CP2 LNG to start mobilization and site preparation

Venture Global LNG's CP2 LNG has received approval from the US FERC to start mobilization and other limited activities for the LNG project in Louisiana.