Cheniere Energy offers to buy all $1.1 billion 5 5/8% notes due 2026

Chicago, Sept. 13 – Cheniere Energy Partners, LP has started a tender offer for any and all of its $1.1 billion outstanding 5 5/8% notes due 2026 (Cusips: 16411QAD3, U16353AB7), according to a press release.

The company is offering to purchase each $1,000 note for $1,030.

The amount includes a $50 early tender premium to be paid to noteholders who tender their notes by the early deadline at 5 p.m. ET on Sept. 24.

Interest will also be paid to the relevant settlement date.

Cheniere is also soliciting consents to amend the indenture governing the notes to reduce the minimum notice period to optionally redeem the notes.

The tender offer is subject to a financing condition for at least $1.2 billion from one or more debt financings.

The tender offer is not conditioned upon the requisite consents to adopt the proposed amendments.

The company is issuing a notice of redemption assuming it receives at least $1.2 billion from the concurrent new debt financing and does not receive the requisite consents. The notes would be redeemed at 102.813 plus interest to the redemption date.

Alternatively, if the requisite consents are obtained, the company will issue a notice of redemption that will supersede the first notice at the time of the early settlement date.

The early deadline is also the withdrawal deadline.

The tender offer and consent solicitation will expire at 12:01 a.m. ET on Oct. 12.

Early settlement is scheduled for Sept. 27. Final settlement is expected for Oct. 13.

RBC Capital Markets, LLC is the dealer manager and solicitation agent (212 618-7843, 877 381-2099).

Ipreo LLC is the tender and information agent (212 849-3880, 888 593-9546, ipreo-tenderoffer@ihsmarkit.com).

Cheniere is a Houston-based LNG company.

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