US Cheniere issues long-term debt
US LNG terminal operator Cheniere Energy has priced its previously announced offering of $750mn debt at 2.742%/yr. It will mature December 31, 2039. The average maturity is about 12 years.
The debt, issued by subsidiary Corpus Christi Holdings (CCH), will be used to cover some of its other debt and is backed by "substantially all of the assets of CCH and its subsidiaries and by a pledge of all of the equity interests in CCH." It will be repaid pari passu with all existing and future senior secured indebtedness of CCH, it said.
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Corpus Christi has three trains totalling 13.5mn mt/yr after allowing for maintenance, production reliability and potential overdesign. It is planning to add seven smaller trains, totalling 7.5mn mt/yr.