HOUSTON, May 12, 2016 /PRNewswire/ -- Cheniere Energy,
Inc. ("Cheniere") (NYSE MKT: LNG) announced today that its wholly
owned subsidiary, Cheniere Corpus Christi Holdings, LLC ("CCH"),
has upsized and priced its previously announced offering of Senior
Secured Notes due 2024 (the "CCH 2024 Notes"). The principal
amount of the offering has been increased from the initially
announced $1.0 billion to $1.25
billion. The CCH 2024 Notes will bear interest at a rate of
7.00% per annum and will mature on June 30, 2024. The CCH 2024
Notes are priced at par and the closing of the offering is expected
to occur on May 18, 2016.
CCH intends to use the net proceeds from the offering to prepay
a portion of the principal amounts currently outstanding under
CCH's credit facility (the "CCH Credit Facility") and to pay fees
and expenses incurred in connection with this offering and the
prepayment. The CCH 2024 Notes will be secured by a first priority
security interest in substantially all of the assets of CCH and its
subsidiaries and by a pledge of all of the equity interests in CCH
and will rank pari passu in right of payment with all existing and
future senior secured indebtedness of CCH, including borrowings
under the CCH Credit Facility.
The offer of the CCH 2024 Notes has not been registered under
the Securities Act of 1933, as amended (the "Securities Act") and
the CCH 2024 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.
Forward-Looking Statements
This press release contains certain statements that may include
"forward-looking statements" within the meanings of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical facts, included herein are "forward-looking statements."
Included among "forward-looking statements" are, among other
things, (i) statements regarding Cheniere's business strategy,
plans and objectives, including the development, construction and
operation of liquefaction facilities, (ii) statements regarding
expectations regarding regulatory authorizations and approvals,
(iii) statements expressing beliefs and expectations regarding the
development of Cheniere's LNG terminal and liquefaction business,
(iv) statements regarding the business operations and prospects of
third parties, (v) statements regarding potential financing
arrangements, and (vi) statements regarding future discussions and
entry into contracts. Although Cheniere believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Cheniere's actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in Cheniere's periodic reports that are
filed with and available from the Securities and Exchange
Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Other than as required under the securities laws,
Cheniere does not assume a duty to update these forward-looking
statements.
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SOURCE Cheniere Energy, Inc.