Cheniere Energy Partners LP said it will soon launch the syndication of two new credit facilities totaling about $2 billion. The new senior secured syndicated credit facilities include $750 million at Cheniere Partners and $1.3 billion at Sabine Pass Liquefaction LLC. Proceeds from the Cheniere Energy 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 purposes. 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. Closing is expected by the end of the second quarter in conjunction with the closing of equity financing and the purchase of the Creole Trail Pipeline. Cheniere Energy Partners recently announced several deals intended to fund the Sabine Pass liquefaction project (see Daily GPI, May 16).
©Copyright 2012 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc.