Cheniere Energy Partners, L.P.
CQP announced today the initial results of
the previously announced cash tender offer by its wholly owned subsidiary,
Sabine Pass LNG, L.P. ("SPLNG"), relating to any and all of SPLNG's
outstanding 7.25% Senior Secured Notes due 2013 (CUSIP/ISIN Nos. 785583 AA3,
U8596QAA0, 785583 AC9, US785583AA33, USU8596QAA05, US785583AC98) ("Notes")
pursuant to its Offer to Purchase dated October 1, 2012 relating to the tender
offer.
As of 5:00 p.m., New York City time, on October 15, 2012 (the "Early Tender
Deadline"), approximately $533.6 million aggregate principal amount of the
Notes (or approximately 97% percent of the outstanding principal amount of
Notes) had been validly tendered and not validly withdrawn.
The time and date on or before which validly tendered Notes may be validly
withdrawn expired at 5:00 p.m., New York City time, on October 15, 2012.
Holders of Notes may not validly withdraw any validly tendered Notes after
that time and date, except in limited circumstances where we determine
additional rights are required by law.
SPLNG has elected to exercise the Early Settlement Election described in the
Offer to Purchase. Holders of Notes who validly tendered and did not validly
withdraw their Notes on or prior to the Early Tender Deadline will receive on
October 16, 2012 (the "Early Settlement Date") the purchase price equal to
$1,073.55, plus accrued and unpaid interest, for each $1,000 principal amount
of the Notes purchased. After giving effect to the purchase of Notes on the
Early Settlement Date, approximately $16.4 million aggregate principal amount
of the Notes will remain outstanding.
The tender offer for the Notes will expire at 12:00 midnight (meaning the end
of such day), New York City time, on October 29, 2012, unless extended or
earlier terminated (such date and time, as the same may be extended, the
"Expiration Date"). Holders of the Notes who validly tender their Notes after
the Early Tender Deadline and on or prior to the Expiration Date, and whose
Notes are accepted for purchase, will receive a purchase price equal to
$1,043.55, plus accrued interest, for each $1,000 principal amount of the
Notes purchased, on the settlement date, which is expected to be promptly
after the Expiration Date.
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