Venture Global Calcasieu Pass driving by with $750 million 12-year secured notes; talk 4%-4¼%

By Paul A. Harris

Portland, Ore., Nov. 17 – Venture Global Calcasieu Pass LLC plans to price a $750 million offering of 12-year senior secured bullet notes (existing ratings Ba3/BB) in a Wednesday drive-by, according to market sources.

The deal is in the market with initial guidance of 4% to 4¼%.

J.P. Morgan Securities LLC, BofA Securities Inc. and RBC Capital Markets LLC are the joint bookrunners.

Proceeds from the Rule 144A and Regulation S for life deal will be used to pay down the company's senior secured construction loan.

Venture Global Calcasieu Pass is developing a liquefied natural gas (LNG) export facility in Cameron Parish, La., south of the city of Lake Charles.

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