April 10, 2013
/PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that its wholly owned subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Liquefaction"), has priced its previously announced offering of Senior Secured Notes due 2021 ("SPL 2021 Notes") and Senior Secured Notes due 2023 ("SPL 2023 Notes"), collectively, the "Notes." The SPL 2021 Notes will constitute a further issuance of and will form a single series with the 5.625% Senior Secured Notes due 2021 ("Outstanding 2021 Notes") that were issued by Sabine Liquefaction on
, 2013. The SPL 2021 Notes will bear interest at a rate of 5.625% per annum and will mature on
, 2021. The SPL 2023 Notes will bear interest at a rate of 5.625% per annum and will mature on
, 2023. The SPL 2021 Notes are priced at 102.5% of par and the SPL 2023 Notes are priced at par. The closing of the offering is expected to occur on
Sabine Liquefaction intends to use the net proceeds from the offering to pay capital costs in connection with the construction of the first two LNG liquefaction trains at its facility in
Cameron Parish, Louisiana
and fees and expenses incurred associated with the offering. The net proceeds will be used in lieu of a portion of Sabine Liquefaction's
Term Loan A Credit facility. The Notes are pari passu in right of payment with all existing and future Senior Debt of Sabine Liquefaction, including borrowings under the Term Loan A Credit Agreement and its Outstanding 2021 Notes.
The offer of the Notes has not been registered under the Securities Act of 1933, as amended (the "Securities Act") and the 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.
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 fact, included herein are "forward-looking statements." Included among "forward-looking statements" are, among other things, statements regarding Cheniere Partners' business strategy, plans and objectives, including the use of proceeds from the offering. Although Cheniere Partners 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 Partners' 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 Partners' 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 Partners does not assume a duty to update these forward-looking statements.