By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, Nov. 14 – Cheniere Energy Partners, LP announced that its subsidiary, Sabine Pass Liquefaction LLC, priced $430 million of 5.9% senior secured amortizing notes due Sept. 15, 2037 (Baa2/BBB/BBB) at 99.856.
The spread priced as 205 basis points over Treasuries, a market source noted.
The notes will have a weighted average life of approximately 9.5 years. They will be fully amortizing according to a fixed sculpted amortization schedule with semiannual payments of principal and interest, according to a press release.
The Houston-based producer of liquid natural gas plans to use the proceeds plus cash on hand to redeem $500 million of Sabine Pass’ outstanding senior secured notes due 2023.
| Issuer: | Sabine Pass Liquefaction LLC
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| Amount: | $430 million
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| Issue: | Senior secured amortizing notes
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| Maturity: | Sept. 15, 2037
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| Coupon: | 5.9%
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| Price: | 99.856
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| Spread: | Treasuries plus 205 bps
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| Pricing date: | Nov. 14
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| Settlement date: | Nov. 29
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| Rating: | Moody’s: Baa2
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| S&P: BBB
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| Fitch: BBB
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