HOUSTON, Feb. 28, 2017 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that its wholly owned subsidiary, Sabine Pass Liquefaction, LLC ("SPL"), has priced its previously announced offering of $1.35 billion principal amount of Senior Secured Notes due 2028 (the "SPL 2028 Notes"). The SPL 2028 Notes will bear interest at a rate of 4.200% per annum and will be issued at a price equal to 99.903% of par to yield 4.211%. The SPL 2028 Notes will mature on March 15, 2028. The closing of the offering of the SPL 2028 Notes is expected to occur on March 6, 2017.
SPL intends to use the net proceeds from the offering (after deducting the initial purchasers' commissions, estimated fees and expenses and incremental interest during construction related to the SPL 2028 Notes) to pay capital costs in connection with the construction of Trains 1 through 5 of the Sabine Pass Liquefaction Project. In connection with the offering, SPL will reduce commitments on a ratable basis under its credit facilities (the "2015 SPL Credit Facilities") of approximately $1.2 billion to zero and terminate the 2015 SPL Credit Facilities. The SPL 2028 Notes will rank pari passu in right of payment with all existing and future senior secured indebtedness of SPL, including its outstanding senior secured notes due 2021, senior secured notes due 2022, senior secured notes due 2023, senior secured notes due 2024, senior secured notes due 2025, senior secured notes due 2026, senior secured notes due 2027, senior secured notes due 2037 and its obligations under its working capital facility.
The offer of the SPL 2028 Notes has not been registered under the Securities Act of 1933, as amended (the "Securities Act") and the SPL 2028 Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
This press release contains certain statements that may include "forward-looking statements." All statements, other than statements of historical fact, included herein are "forward-looking statements." Included among "forward-looking statements" are, among other things, statements regarding Cheniere Partners' business strategy, plans and objectives, including the use of proceeds from the offering. Although Cheniere Partners believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere Partners' actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere Partners' periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere Partners does not assume a duty to update these forward-looking statements.
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SOURCE Cheniere Energy Partners, L.P.
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