| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item |
Cheniere Energy gives early results of tender offer on 5¼% notes
By Taylor Fox
New York, March 11 – Cheniere Energy Partners, LP announced the early results of its cash tender offer to purchase any and all of its $1.5 billion outstanding 5¼% notes due 2025 (Cusip: 1611QAB7) and consent solicitation, according to a news release.
As of the 5 p.m. ET March 10 early tender time, $741,572,000, or 49.44%, of the notes were tendered.
As previously reported, Cheniere is also soliciting consents from holders of the notes to amend some provisions of the indenture governing the notes to reduce the minimum notice period to redeem the notes.
The offer was announced on Feb. 25 with an initial cap of $1 billion that was increased later that same day.
The offer and consent solicitation will expire at 12:01 a.m. ET March 24.
Holders who tendered notes prior to the early tender date will receive the total consideration of $1,027.27 per $1,000 of notes tendered, which includes a $50 early tender premium.
Holders who tender notes after the early tender date but before the expiration time will receive $977.27 per $1,000 of notes tendered.
The company will also pay in each case accrued interest to but excluding the applicable settlement date.
The early settlement date is expected to be March 11, and the final settlement date is expected for March 25.
The tender offer is conditioned on the company raising a minimum of $1 billion of proceeds from one or more debt financings by the end of the tender offer.
The tender offer is not, however, conditioned on any minimum amount of notes being tendered or receipt of required consents to adopt the proposed amendments.
Tendered notes may no longer be withdrawn, and consents delivered may no longer be revoked.
J.P. Morgan Securities LLC (212 834-2045, 866 834-4666) is the dealer manager and solicitation agent, and Ipreo LLC (212 849-3880, 888 593-9546; ipeo-tenderoffer@ihsmarkit.com) is the tender and information agent.
Cheniere is a Houston-based LNG company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.