Cheniere guiding $1 billion 10-year bullet notes to yield 5 7/8%-6%; pricing Wednesday

By Paul A. Harris

Portland, Ore., June 8 – Sabine Pass Liquefaction, LLC, a wholly owned subsidiary of Cheniere Energy Partners, LP, plans to sell $1 billion of non-callable 10-year senior secured notes on Wednesday trailing a mid-morning conference call with investors, according to market sources.

Initial guidance has the bullet deal coming with a yield of 5 7/8% to 6%, a trader said.

Credit Suisse Securities (USA) LLC, Scotia Capital, SG CIB, MUFG, Lloyds, Mizuho Securities, RBC Capital Markets, Morgan Stanley & Co. LLC, Credit Agricole CIB, ING, BBVA, BofA Merrill Lynch, SMBC Nikko, Santander, HSBC, Goldman Sachs & Co., J.P. Morgan Securities LLC and ABN Amro are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

The notes feature a 101% poison put.

The Cameron Parish, La.-based developer and operator of natural gas liquefaction facilities plans to use the proceeds to repay bank debt.

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