Sabine Pass will fund redemption of notes with new private placement

Chicago, Sept. 14 – Cheniere Energy Partners, LP subsidiary Sabine Pass Liquefaction, LLC stated that it would fund the full redemption of its 6¼% notes due 2022 with the proceeds from a private placement of new notes, according to an 8-K filing with the Securities and Exchange Commission.

The company issued a notice of partial redemption for Oct. 13 when the company will redeem $318 of the notes.

The company plans to redeem the remaining $682 million of the notes in the fourth quarter using proceeds of the new private placement along with 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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