Cheniere Energy Raising $11.5 Billion In Debt For LNG Export Facility
Cheniere Energy, Inc. (NYSE: LNG) announced Friday that it has engaged 18 financial institutions to arrange up to $11.5 billion in debt financing.
According to the company’s press release, the proceeds will primarily be used for development and construction of the LNG export facility and related pipeline being developed near Corpus Christi, Texas.
The estimated capital costs for the proposed liquefaction project of $11.5 billion to $12.0 billion, before financing and pipeline facilities, are expected to be funded from a combination of debt and equity financings.
“We have now received the equity and debt commitments needed to support the financing of the Corpus Christi Liquefaction Project," said Charif Souki, Chairman and CEO. "We are continuing to make progress on our Corpus Christi liquefaction project and expect to commence construction in early 2015."
Cheniere Energy shares were halted ahead of the news and recently resumed trading at $64.08, up 0.2 percent.
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