Cheniere Energy announces $2.8 billion in facilities to fund repayment

By Paul Harris

Portland, Ore., Jan. 25 – Cheniere Energy Partners, LP announced in a Monday press release that it has mandated 13 financial institutions to act as joint lead arrangers for roughly $2.8 billion of new senior secured credit facilities.

The arrangers are MUFG, ABN Amro Capital USA LLC, SG CIB, Industrial and Commercial Bank of China Ltd., New York Branch, Intesa Sanpaolo, SPA, New York Branch, JPMorgan Chase Bank, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corp., Morgan Stanley Senior Funding, Inc., Bank of America, NA, Credit Suisse Securities (USA) LLC, HSBC Bank USA and Commonwealth Bank of Australia.

Proceeds will be used to prepay Cheniere Creole Trail Pipeline, LP’s $400 million senior secured term loan, as well as to redeem or repay the roughly $1.7 billion senior notes due 2016 and the $420 million senior secured notes due 2020 issued by Sabine Pass LNG, LP, and for general business purposes of Cheniere Partners and its subsidiaries.

"Cheniere Partners is pleased to have the continued support of its key relationship banks for this refinancing,” Neal Shear, Cheniere board chairman and interim CEO, said in the release.

Following the close of the transaction the nearest debt maturity of Cheniere Partners will be in 2020, Shear added.

The borrower is a Houston-based LNG terminal, transmission and infrastructure company.

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