Sabine Pass pricing $1 billion notes due 2022 in Monday drive-by

By Paul A. Harris

Portland, Ore., Nov. 18 - Sabine Pass Liquefaction, LLC plans to price a $1 billion offering of non-callable senior secured notes due 2022 (expected ratings Ba3/BB+) on Monday, following a late-morning investor conference call, according to a syndicate source.

Morgan Stanley & Co. LLC, Mizuho Securities USA Inc., RBC Capital Markets, SG CIB, HSBC, Credit Suisse Securities (USA) LLC, Lloyds TSB, Mitsubishi UFJ Securities, Scotia Capital, Credit Agricole CIB, ING, Banca IMI, Standard Chartered, J.P. Morgan Securities LLC and SMBC Nikko are the joint bookrunners for the Rule 144A with registration rights notes offering.

BofA Merrill Lynch, Santander, CIBC World Markets and Goldman Sachs & Co. are the joint lead managers.

Deutsche Bank Securities Inc. is the co-manager.

Proceeds will be used to pay capital costs in connection with the construction of the first four liquefaction trains at the company's facility in Cameron Parish, La.

Sabine Pass Liquefaction, a Houston-based liquid natural gas company, is a wholly owned subsidiary of Cheniere Energy Partners, LP.

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