Sabine Pass to price $1.5 billion 10-year bullet in Tuesday drive-by

By Paul A. Harris

Portland, Ore., May 13 - Sabine Pass Liquefaction, LLC plans to price $1.5 billion of non-callable 10-year senior secured notes (expected ratings Ba3/BB+) Tuesday afternoon, trailing a late-morning conference call with investors, according to a syndicate source.

RBC Capital Markets Corp. is the left bookrunner for the Rule 144A and Regulation S with registration rights offering.

Mizuho Securities, SG CIB, Morgan Stanley & Co. LLC, HSBC Securities (USA) Inc., Scotia Capital, Credit Suisse Securities (USA) LLC, Lloyds Securities LLC, Mitsubishi UFJ Securities, Credit Agricole CIB, ING, Banca IMI, Standard Chartered, J.P. Morgan Securities LLC and SMBC Nikko are the joint bookrunners.

BofA Merrill Lynch, Santander, CIBC World Markets and Goldman Sachs & Co. are the joint lead managers.

Deutsche Bank Securities Inc. is the co-manager.

The Houston-based liquid natural gas company plans to use the proceeds to pay capital costs in connection with the construction of liquefaction trains 1 through 4 and to repay bank debt.

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