Venture Global LNG wraps up $4.5 billion senior notes offering

US LNG exporter Venture Global LNG said that it had closed its $4.5 billion inaugural offering of senior secured notes.

The notes have been issued in a series of 8.125 percent senior secured notes due 2028 in an aggregate principal amount of $2.25 billion, and a series of 8.375 percent senior secured notes due 2031 in an aggregate principal amount of $2.25 billion.

Venture Global said the aggregate principal amount of issued notes represents an increase of $1 billion from the initially offered amount of $3.5 billion.

The LNG exporter said it intends to use the net proceeds from the offering to prepay, in full, its existing senior secured first lien credit facilities, to pay fees and expenses in connection with the offering, and for general corporate purposes.

Also, the notes are 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, it said.

In March, Venture Global took a final investment decision for the second phase of its 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.

Together, phase one and phase two represent about $21 billion of investment, the largest project financing ever done, according to Venture Global.

Venture Global already exports LNG from its Calcasieu Pass plant in Louisiana.

Besides Calcasieu Pass and Plaquemines, the firm is also making progress on its proposed CP2 LNG export terminal in Louisiana.

Most Popular

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.

CMA CGM’s LNG-powered giant floated out in China

China’s Hudong-Zhonghua has launched the third in a new series of 24,000-teu LNG dual-fuel containerships for French shipping giant CMA CGM.

Venture Global gets OK to introduce gas to final Plaquemines LNG block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the 18th and final liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

More News Like This

Venture Global gets OK to introduce gas to final Plaquemines LNG block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the 18th and final liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

Venture Global’s Plaquemines LNG to commission 18th liquefaction block with nitrogen

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the liquefaction train system block 18 with nitrogen at its Plaquemines plant in Louisiana.

Venture Global eyes FID on second CP2 phase in 2026

US LNG exporter Venture Global LNG expects to make a final investment decision on the second phase of its CP2 LNG project in Louisiana in 2026, according to CEO Mike Sabel.

Venture Global wins Calcasieu Pass arbitration against Shell

US LNG exporter Venture Global LNG has won an arbitration case against UK-based LNG giant Shell over LNG sales from the Calcasieu Pass plant in Louisiana.