Cheniere Partners Announces Launch of New Credit Facilities in Connection with the Construction of the Sabine Pass Liquefaction Project
Cheniere Energy Partners, L.P. (NYSE: CQP) announced today that it will launch the syndication of two new credit facilities totaling approximately $2 billion with a bank meeting to be held on Tuesday, May 29th, 2012. The new senior secured syndicated credit facilities include approximately $750 million at Cheniere Partners and approximately $1.3 billion at Sabine Pass Liquefaction, LLC.
Net proceeds from the Cheniere Partners credit facility will be used to fund the acquisition of the Creole Trail Pipeline, to pay for pipeline improvement and modification costs, and for other general business purposes. Net proceeds from the Sabine Pass Liquefaction credit facility will be used to fund the costs of developing, constructing and placing into service the first two liquefaction trains of the Sabine Pass LNG liquefaction project .
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