By Devika Patel and Cristal Cody
Knoxville, Tenn., Aug. 17 – Cheniere Energy, Inc. subsidiary Cheniere Corpus Christi Holdings, LLC priced an upsized $750 million of 2.742% senior secured notes due Dec. 31, 2039 (Baa3/BBB-/BBB-) at par on Tuesday, according to a press release.
The notes priced with a Treasuries plus 150 basis points spread.
Initial price talk was in the Treasuries plus 175 bps area for $500 million of notes.
BofA Securities Inc., ING Financial Markets LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America Inc. were the bookrunners.
Proceeds will be used to prepay a portion of the principal amount currently outstanding under Cheniere Corpus Christi’s term loan due 2024.
Cheniere Energy is a Houston-based energy company.
| Issuer: | Cheniere Corpus Christi Holdings, LLC
|
| Description: | Senior secured notes
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| Amount: | $750 million
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| Maturity: | Dec. 31, 2039
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| Bookrunners: | BofA Securities Inc., ING Financial Markets LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America Inc.
|
| Coupon: | 2.742%
|
| Price: | Par
|
| Yield: | 2.742%
|
| Spread: | Treasuries plus 150 bps
|
| Trade date: | Aug. 17
|
| Settlement date: | Aug. 24
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Guidance: | Treasuries plus 175 bps area
|
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