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

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

NextDecade, Bechtel agree $9 billion EPC deals for two Rio Grande LNG trains

US LNG firm NextDecade and compatriot Bechtel have finalized EPC contracts worth $9.09 billion for the construction of the fourth and fifth trains and related infrastructure at the Rio Grande LNG facility in Texas.

Worley updates on CP2 LNG work

Australian engineering firm Worley has provided an update on its reimbursable EPC contract with US LNG exporter Venture Global LNG for the latter's CP2 LNG terminal in Louisiana.

More News Like This

Kelsian’s unit scores CP2 LNG contract

A unit of Australia’s land and marine transport service provider Kelsian has secured a contract from Worley for Venture Global LNG's CP2 LNG project in Louisiana.

Venture Global gets FERC OK to boost Calcasieu Pass LNG capacity

US LNG exporter Venture Global LNG has received approval from the US FERC to increase the peak liquefaction capacity of its Calcasieu Pass LNG terminal in Louisiana.

Worley updates on CP2 LNG work

Australian engineering firm Worley has provided an update on its reimbursable EPC contract with US LNG exporter Venture Global LNG for the latter's CP2 LNG terminal in Louisiana.

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.