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

Yang Ming books LNG-powered containerships in South Korea

Taiwan’s Yang Ming Marine Transport has decided to order LNG dual-fuel container vessels from South Korea's Hanwha Ocean as part of its ongoing fleet optimization plan.

Sabah to take stake in Petronas’ third FLNG

SMJ Energy, owned by the Sabah government, has signed a heads of agreement with Malaysian energy giant Petronas to take a 25 percent stake in the latter's third floating LNG production unit.

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

More News Like This

Venture Global to introduce gas to 14th Plaquemines liquefaction block

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

Venture Global, Eni ink 20-year CP2 LNG supply deal

US LNG exporter Venture Global LNG has signed a 20-year LNG supply contract with Italian energy firm Eni for volumes from the CP2 project in Louisiana.

Venture Global adds more liquefaction blocks to Plaquemines expansion

US LNG exporter Venture Global LNG has added four more liquefaction blocks to the proposed brownfield expansion of its Plaquemines LNG terminal in Louisiana.

Venture Global, SEFE seal new 20-year LNG supply deal

US LNG exporter Venture Global LNG has signed a 20-year LNG supply contract with German gas importer Securing Energy for Europe (SEFE) for volumes from the CP2 project in Louisiana. With this deal, SEFE bought more LNG from Venture Global's CP2 project.