September 20, 2017 2:25 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Sabine Pass Liquefaction, LLC

Company Overview

Sabine Pass Liquefaction, LLC owns, develops, and operates natural gas liquefaction facilities in Cameron Parish, Louisiana. It plans to construct six trains to treat, liquefy, store, and export natural gas. The company was founded in 2010 and is based in Houston, Texas. Sabine Pass Liquefaction, LLC is a subsidiary of Cheniere Energy Partners, L.P.

700 Milam Street

Suite 1900

Houston, TX 77002

United States

Founded in 2010

Phone:

713-375-5000

Key Executives for Sabine Pass Liquefaction, LLC

Chief Financial Officer and Manager
Age: 41
Chief Accounting Officer
Age: 54
Independent Manager
Age: 43
Compensation as of Fiscal Year 2017.

Sabine Pass Liquefaction, LLC Key Developments

Sabine Pass Liquefaction Prices $1.35 Billion Principal Amount of Senior Secured Notes Due 2028

Cheniere Energy Partners, L.P. announced that its wholly owned subsidiary, Sabine Pass Liquefaction, LLC, has priced its previously announced offering of $1.35 billion principal amount of Senior Secured Notes due 2028. The SPL 2028 Notes will bear interest at a rate of 4.200% per annum and will be issued at a price equal to 99.903% of par to yield 4.211%. The SPL 2028 Notes will mature on March 15, 2028. The closing of the offering of the SPL 2028 Notes is expected to occur on March 6, 2017. SPL intends to use the net proceeds from the offering (after deducting the initial purchasers' commissions, estimated fees and expenses and incremental interest during construction related to the SPL 2028 Notes) to pay capital costs in connection with the construction of Trains 1 through 5 of the Sabine Pass Liquefaction Project. In connection with the offering, SPL will reduce commitments on a ratable basis under its credit facilities of approximately $1.2 billion to zero and terminate the 2015 SPL Credit Facilities. The SPL 2028 Notes will rank pari passu in right of payment with all existing and future senior secured indebtedness of SPL, including its outstanding senior secured notes due 2021, senior secured notes due 2022, senior secured notes due 2023, senior secured notes due 2024, senior secured notes due 2025, senior secured notes due 2026, senior secured notes due 2027, senior secured notes due 2037 and its obligations under its working capital facility.

Sabine Pass Liquefaction, LLC Announces Offering of Senior Secured Notes Due 2028

On February 27, 2017, Cheniere Energy Partners, L.P., a subsidiary of Cheniere Energy Inc. announced that its wholly owned subsidiary, Sabine Pass Liquefaction, LLC, intends to offer, subject to market and other conditions, $1.35 billion aggregate principal amount of Senior Secured Notes due 2028. SPL intends to use the net proceeds from the offering (after deducting the initial purchasers' commissions, estimated fees and expenses and incremental interest during construction related to the SPL 2028 notes) to pay capital costs in connection with the construction of Trains 1 through 5 of the Sabine Pass Liquefaction Project. In connection with the offering, SPL will reduce commitments on a ratable basis under its credit facilities(the 2015 SPL Credit Facilities") of approximately $1.2 billion. The SPL 2028 Notes will rank pari passu in right of payment with all existing and future senior secured indebtedness of SPL, including borrowings under the 2015 SPL Credit Facilities, its outstanding senior secured notes due 2021, senior secured notes due 2022, senior secured notes due 2023, senior secured notes due 2024, senior secured notes due 2025, senior secured notes due 2026, senior secured notes due 2027, senior secured notes due 2037 and its obligations under its working capital facility. The offer of the SPL 2028 Notes has not been registered under the Securities Act of 1933, as amended (the Securities Act") and the SPL 2028 Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Sabine Pass Liquefaction, LLC Announces Pricing of Private Placement of $800 Million of Senior Secured Notes Due 2037

Cheniere Energy Partners, L.P. announced that its wholly owned subsidiary, Sabine Pass Liquefaction, LLC, intends to enter into a Note Purchase Agreement to issue and sell $800 million principal amount of 5.00% Senior Secured Notes due 2037 in a private placement. SPL expects to close the transaction and issue the SPL 2037 Notes on February 24, 2017. The SPL 2037 Notes will be fully amortizing according to a fixed sculpted amortization schedule and have a weighted average life of approximately 15.2 years. Amortization of the SPL 2037 Notes will be deferred for the first approximately 8.6 years until 2025. SPL intends to use the net proceeds from the offering (after deducting the estimated fees, expenses and incremental interest during construction related to the SPL 2037 Notes) to prepay all of the principal amounts currently outstanding under SPL's credit facilities and to pay capital costs in connection with the construction of Trains 1 through 5 of the Sabine Pass Liquefaction Project. The SPL 2037 Notes will rank pari passu in right of payment with all existing and future senior secured indebtedness of SPL, including borrowings under the 2015 SPL Credit Facilities, its outstanding senior secured notes due 2021, senior secured notes due 2022, senior secured notes due 2023, senior secured notes due 2024, senior secured notes due 2025, senior secured notes due 2026, senior secured notes due 2027 and its obligations under its working capital facility.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
February 24, 2017
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