Cheniere Energy talks $1 billion eight-year notes to yield 5%-5¼%; pricing Tuesday

By Paul A. Harris

Portland, Ore., Sept. 11 – Cheniere Energy Partners, LP talked $1 billion of eight-year senior notes (Ba2) to yield 5% to 5¼% on Monday, according to a syndicate source.

Books close at noon ET on Tuesday, and the deal is set to price thereafter.

Credit Suisse Securities (USA) LLC, ABN Amro, BofA Merrill Lynch, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, MUFG, SG CIB and Sumitomo are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

The notes become callable after three years at par plus 50% of the coupon and feature a three year 35% equity clawback and a 101% poison put.

The Houston-based integrated liquefied natural gas company plans to use the proceeds to partially repay its secured credit facilities.

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