Cheniere sells $475 million notes; Reykjavik Energy, Otter Tail Power settle placements

By Devika Patel

Knoxville, Tenn., Oct. 11 – The private placement market saw a moderate level of activity ahead of the Columbus Day holiday in the United States.

Cheniere Corpus Christi Holdings, LLC, an indirect wholly owned subsidiary of Houston-based liquefied natural gas company Cheniere Energy, Inc., completed a $475 million private placement of 3.925% senior secured notes due Dec. 31, 2039.

Proceeds will be used to repay a portion of the company’s term loans.

The investors were accounts managed by BlackRock Real Assets and accounts managed by MetLife Investment Management.

The company previously sold 4.8% senior secured notes due Dec. 31, 2039 in a Sept. 27 placement.

Reykjavik, Iceland-based public utility Reykjavik Energy sold ISK 2,733,000,000 of green bonds to yield 1.8% in a private placement. The deal was arranged by Fossar Markets.

Fergus Falls, Minn.-based Otter Tail Power Co., an electric utility company, settled $100 million of a seven-tranche $175 million private placement of notes that priced in September.

On Thursday, the company issued $10 million of 3.07% series 2019A notes due 2029, $26 million of 3.52% series 2019B notes due 2039 and $64 million of 3.82% series 2019C notes due 2049.

Of the remaining $75 million of notes, $35 million will settle Feb. 25 and $40 million will settle Aug. 20, 2020.

U.S. Bank NA and Bank of America, NA are the agents.

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