HOUSTON, Oct. 2, 2012 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that its wholly owned subsidiary, Sabine Pass LNG, L.P. ("Sabine Pass LNG"), has priced its previously announced offering of Senior Secured Notes due 2020 ("2020 Notes"). The 2020 Notes will bear interest at a rate of 6.50% per annum and will mature on November 1, 2020. The 2020 Notes are priced at par and the closing of the offering is expected to occur on October 16, 2012.
Sabine Pass LNG intends to use the net proceeds from this offering plus the net proceeds of up to approximately $194 million from the recently closed equity offering of Cheniere Partners' common units to fund its tender offer for its 7.25% Senior Secured Notes due 2013.
The 2020 Notes will be offered in a private placement and are expected to be resold by the initial purchasers to qualified institutional buyers under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The offer of the 2020 Notes will be made only by means of an offering circular to qualified investors and has not been registered under the Securities Act, and the 2020 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.