Cheniere Energy takes in early tenders of $672.3 million 5 5/8% notes

By Wendy Van Sickle

Columbus, Ohio, Sept. 27 – Cheniere Energy Partners, LP announced early results of its 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.

By the early deadline of the offer, which was announced on Sept. 13, Cheniere had taken in tenders of $672,331,000, or 61.12%, of the outstanding notes.

The company is offering to purchase each $1,000 note for a total consideration of $1,030, which includes a $50 early tender premium to be paid to noteholders who tendered 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. By the early deadline, the company had received sufficient consents for passage of the amendment.

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

The company plans to issue a notice to redeem all notes not tendered under the offer.

The early deadline was also the withdrawal deadline.

The tender offer 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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