Sabine Pass details 2024 note redemption via new Cheniere notes

By William Gullotti

Buffalo, N.Y., June 7 – Cheniere Energy Partners, LP subsidiary Sabine Pass Liquefaction, LLC provided further details for the partial redemption of its outstanding senior secured notes due 2024, according to an 8-K filing with the Securities and Exchange Commission.

As previously reported, Cheniere priced $1.4 billion of 5.95% senior notes due 2033 on Tuesday with plans to contribute the proceeds to Sabine Pass for the partial redemption.

The partial redemption is a make-whole call at the greater of par and the sum of present values of the remaining scheduled payments of principal and interest from the redemption date to Feb. 15, 2024, discounted at Treasuries plus 50 basis points.

In each case, accrued and unpaid interest up to the redemption date will also be paid, although the redemption date itself was not included in the filing.

The producer of liquid natural gas is based in Houston.

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