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Sabine Pass issues partial redemption notice for 6¼% notes due 2022
Chicago, Sept. 13 – Cheniere Energy Partners, LP subsidiary Sabine Pass Liquefaction, LLC has issued a partial redemption notice for $318 million of its 6¼% senior secured notes due 2022, according to an 8-K filing with the Securities and Exchange Commission.
The notes will be redeemed with a make-whole premium based on Treasuries plus 50 basis points.
The premium will be based on the first par call date, Dec. 15, 2021.
There will be $682 million of the notes outstanding after the redeemed notes are canceled.
SPL intends to redeem the remaining notes during the fourth quarter of 2021.
Funding for the redemption will come from $482 million of the proceeds from a new offering of senior secured notes and a $200 million draw on the partnership’s credit facility.
Sabine Pass Liquefaction develops, constructs and operates natural gas liquefaction facilities at the Sabine Pass LNG terminal in Cameron Parish, La.
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