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    US LNG developer Venture Global prices $2.5bn in notes

Summary

The company will offer the notes in two series.

by: Joseph Murphy

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US LNG developer Venture Global prices $2.5bn in notes

US LNG developer Venture Global has priced $2.5bn in senior secured notes that it plans to offer in two series, the company announced on July 29, noting it would use the proceeds to pay off existing credit facilities.

The company, which is developing the 10mn metric ton/year Calcasieu Pass and Plaquemines LNG terminals in Louisiana, said it would issue a series of 3.875% notes due August 2029 for $1.25bn, and a series of 4.125% notes due August 2031, also for $1.25bn. This marks an increase from Venture's previous overall amount offered of $1.5bn.

Polish gas company PGNiG earlier this week agreed to buy an extra 2mn metric tons/year from Venture's two terminals, bolstering their commercial case. Calcasieu Pass LNG is under construction and due online in 2022, while Plaquemines LNG is still pending a final investment decision.