Cheniere Energy Partners, L.P.
("Cheniere Partners") CQP announced today that its wholly owned
subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Liquefaction"), intends to
offer, subject to market and other conditions, $0.5 billion principal amount
of Senior Secured Notes due 2021 ("SPL 2021 Notes") and $1.0 billion principal
amount of Senior Secured Notes due 2023 ("SPL 2023 Notes"), collectively, the
"Notes." The SPL 2021 Notes will constitute a further issuance of and will
form a single series with the 5.625% Senior Secured Notes due 2021
("Outstanding 2021 Notes") that were issued by Sabine Liquefaction on February
1, 2013.
Sabine Liquefaction intends to use the net proceeds from the offering to pay
capital costs in connection with the construction of the first two LNG
liquefaction trains at its facility in Cameron Parish, Louisiana and fees and
expenses incurred associated with the offering. The net proceeds will be used
in lieu of a portion of Sabine Liquefaction's $3.6 billion Term Loan A Credit
facility. The Notes are pari passu in right of payment with all existing and
future Senior Debt of Sabine Liquefaction, including borrowings under the Term
Loan A Credit facility and its Outstanding 2021 Notes.
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