Cheniere Energy Partners has engaged 13 financial institutions to act as joint lead arrangers, mandated lead arrangers and other participants to assist in the structuring and arranging of senior secured credit facilities in an aggregate principal amount of up to approximately $2.8 billion.
Proceeds from these new credit facilities are intended to be used by Cheniere Partners to prepay the $400 million senior secured term loan at Cheniere Creole Trail Pipeline (CCTP), redeem or repay the approximately $1.7 billion senior secured notes due 2016 and the $420 million senior secured notes due 2020 that were issued by Sabine Pass LNG (SPLNG), pay associated transaction fees, expenses, and make-whole amounts, if applicable, and for general business purposes of Cheniere Partners and its subsidiaries. SPLNG and CCTP are both wholly-owned subsidiaries of Cheniere Partners.
The 13 arrangers and other participants are The Bank of Tokyo-Mitsubishi UFJ, ABN AMRO Capital USA, Société Générale, Industrial and Commercial Bank of China Limited, NY Branch, Intesa Sanpaolo, JPMorgan Chase, Mizuho Bank, Sumitomo Mitsui Banking, Morgan Stanley Senior Funding, Bank of America, Credit Suisse, HSBC Bank USA and Commonwealth Bank of Australia.
“Cheniere Partners is pleased to have the continued support of its key relationship banks for this refinancing. Upon closing of this transaction and after subsequent repayment of our outstanding CCTP and SPLNG obligations, the earliest debt maturity at Cheniere Partners will be in 2020,” said Neal Shear, chairman of the board and interim CEO of Cheniere Partners.