By Cristal Cody
Tupelo, Miss., May 5 – Cheniere Energy Partners, LP subsidiary Sabine Pass Liquefaction, LLC priced $2 billion of 4.5% 10-year senior secured notes (Baa3/BBB-/BBB-) on Tuesday at a spread of 387.5 basis points over Treasuries, according to a market source.
Initial price talk was in the Treasuries plus 450 bps area.
Bookrunners were J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and MUFG.
The company held fixed income investor calls on Monday.
Proceeds will be used to repay all or a portion of Sabine Pass Liquefaction’s outstanding 5.625% senior secured notes due Feb. 1, 2021.
Sabine Pass Liquefaction develops, constructs and operates natural gas liquefaction facilities at the Sabine Pass LNG terminal in Cameron Parish, La.
| Issuer: | Sabine Pass Liquefaction, LLC
|
| Amount: | $2 billion
|
| Description: | Senior secured notes
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| Maturity: | May 15, 2030
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| Bookrunners: | J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and MUFG
|
| Coupon: | 4.5%
|
| Spread: | Treasuries plus 387.5 bps
|
| Trade date: | May 5
|
| Ratings: | Moody’s: Baa3
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| S&P: BBB-
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| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 450 bps area
|
| Marketing: | Fixed income investor calls
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