Cheniere Energy Partners prices $2 billion in senior notes to refinance debt and support a 6 million mtpa LNG capacity expansion.
Cheniere Energy Partners (CQP) priced a $2 billion senior notes offering in two tranches, maturing in 2036 and 2056 with interest rates of 5.35% and 6.05%, respectively. Proceeds will refinance existing debt, including $2 billion of 5% notes due 2027, and fund capital expenditures.
The offering follows a contract with Bechtel Corp for the Sabine Pass LNG expansion project, which aims to add 6 million metric tons per annum of capacity. The company operates the Sabine Pass terminal, a key hub for global LNG exports.
CQP plans to allocate remaining proceeds toward working capital and other business opportunities amid growing demand for liquefied natural gas.