SEMPRA (SRE): debt financing — Sempra approves $13B Port Arthur LNG; sells 30% stake to ConocoPhillips, arranges $7B debt

SEMPRA

Final investment decision for Port Arthur LNG; two trains expected online 2027-2028.
Total estimated capex $13.0B; offtake agreements total ~10.5M tonnes/yr with 20- and 15-year terms.
ConocoPhillips acquired 30% of project for ~$265M cash; KKR to buy up to 69.5% indirect interest.
PALNG signed $6.8B term loan and $200M working capital facility, maturing 2030.
EPC contract with Bechtel; advanced funding does not increase total contract price.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SEMPRA incurred credit facility of approximately $6.8 billion with Mizuho Bank, Ltd. (as agent) at Term SOFR plus 2.00% prior to completion, 2.25% after completion maturing March 20, 2030.

Instrument: credit facility
Principal: approximately $6.8 billion
Counterparty: Mizuho Bank, Ltd. (as agent)
Rate: Term SOFR plus 2.00% prior to completion, 2.25% after completion
Maturity: March 20, 2030
Event: incurrence

Exact text from the filing

PALNG entered into (A) an Initial Term Loan Facility Agreement (the “Initial Term Loan Facility Agreement”) with various commercial banks and other financial institutions, as lenders, and Mizuho Bank, Ltd., as Initial Term Loan Facility Agent, for an aggregate principal amount of approximately $6.8 billion

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SEMPRA incurred credit facility of approximately $200 million with Mizuho Bank, Ltd. (as agent) at Term SOFR plus 2.00% prior to completion, 2.25% after completion maturing March 20, 2030.

Instrument: credit facility
Principal: approximately $200 million
Counterparty: Mizuho Bank, Ltd. (as agent)
Rate: Term SOFR plus 2.00% prior to completion, 2.25% after completion
Maturity: March 20, 2030
Event: incurrence

Exact text from the filing

(B) an Initial Working Capital Facility Agreement (the “Initial Working Capital Facility Agreement”) with various commercial banks and other financial institutions, as lenders, and Mizuho Bank, Ltd., as Initial Working Capital Facility Agent, for an aggregate principal amount of approximately $200 million

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114 debt financings filed in the last 30 days. Browse all debt financings →

SEMPRA filing history →

Source: SEC EDGAR

accession 0001032208-23-000011

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