Cheniere Assembles Syndicate to Boost Debt Financing

US LNG developer Cheniere Energy said April 20 it has engaged more than 25 global banks to act as “joint lead arrangers” to assist in the structuring of up to $6.4bn of credit facilities, up from its existing credit facilities of $4.6bn.

The increased debt commitments, Cheniere said, will be used to fund a portion of the costs of developing and putting into service three liquefaction trains at its 22.5mn metric tons/year Corpus Christi LNG project in Texas and for a related pipeline. Two trains are under construction, while efforts to commercialize the third train are continuing.

Cheniere expects to close the new financing arrangements, proceed with FID on Train 3 and issue a notice to proceed to construction on Train 3 in the first half of this year.