By Marisa Wong
Los Angeles, Dec. 15 – Sabine Pass Liquefaction, LLC, a wholly owned subsidiary of Cheniere Energy Partners, LP, closed a private placement of $70 million of 6.293% senior secured notes due 2037 on Thursday, according to the 8-K filing with the Securities and Exchange Commission.
The notes are fully amortizing, with a weighted average life of about 9.6 years and amortization payments delayed until Sept. 15, 2025. The notes will mature on Sept. 15, 2037.
Interest is payable semiannually beginning on March 15, 2023.
The notes are callable in whole or in part at any time or from time to time prior to March 15, 2037 at an “optional redemption price” as specified in the indenture governing the notes. The notes are also callable in whole or in part at any time on or after March 15, 2037 at par.
Proceeds will be used to redeem the company’s 5.625% senior secured notes due 2023.
The producer of liquid natural gas is based in Houston.
| Issuer: | Sabine Pass Liquefaction, LLC
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| Issue: | Senior secured notes
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| Amount: | $70 million
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| Maturity: | Sept. 15, 2037
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| Coupon: | 6.293%
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| Call option: | In whole or in part at any time or from time to time prior to March 15, 2037 at an optional redemption price; in whole or in part at any time on or after March 15, 2037 at par
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| Settlement date: | Dec. 15
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| Distribution: | Private placement
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