Cheniere Energy, Inc. (LNG): debt financing — Cheniere Energy subsidiaries enter into $1B each in new revolving credit facilities, extending maturity to 2028

Cheniere Energy, Inc.

CQP (Cheniere Energy Partners) enters $1B unsecured revolver maturing June 23, 2028.
SPL (Sabine Pass Liquefaction) enters $1B secured revolver maturing June 23, 2028.
Both facilities have no financial covenants; SOFR margins range 1.125%-2.00% (CQP) and 1.00%-1.75% (SPL).
Facilities refinance existing debt with extended maturity and lower interest/commitment fees.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.7

Cheniere Energy, Inc. incurred revolving credit of $1 billion with MUFG Bank, Ltd., Bank of Nova Scotia, Société Générale and other lenders at reduce the rate of interest and commitment fees applicable thereunder maturing extend the maturity date thereunder.

Instrument: revolving credit
Principal: $1 billion
Counterparty: MUFG Bank, Ltd., Bank of Nova Scotia, Société Générale and other lenders
Rate: reduce the rate of interest and commitment fees applicable thereunder
Maturity: extend the maturity date thereunder
Event: incurrence

Exact text from the filing

On June 23, 2023, Sabine Pass Liquefaction, LLC (“ SPL ”), a subsidiary of CEI, entered into a $1 billion Senior Secured Revolving Credit and Guaranty Agreement among SPL, as borrower, various lenders (the “ SPL Lenders ”) and issuing banks, MUFG Bank, Ltd., as coordinating lead arranger, the Bank of Nova Scotia, as senior facility agent and Société Générale, as common security trustee for the SPL Lenders (the “ SPL Revolving Credit Facility ”).

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

Cheniere Energy, Inc. incurred revolving credit of $1 billion with MUFG Bank, Ltd. and SG Americas Securities, LLC and other lenders at variable rate per annum equal to SOFR or the base rate (the highest of (a) the p maturing The Revolving Credit Facility matures on June 23, 2028..

Instrument: revolving credit
Principal: $1 billion
Counterparty: MUFG Bank, Ltd. and SG Americas Securities, LLC and other lenders
Rate: variable rate per annum equal to SOFR or the base rate (the highest of (a) the p
Maturity: The Revolving Credit Facility matures on June 23, 2028.
Event: incurrence

Exact text from the filing

On June 23, 2023, Cheniere Energy Partners, L.P. (“ CQP ”), a subsidiary of Cheniere Energy, Inc. (“ CEI ”), entered into a $1 billion Senior Unsecured Revolving Credit and Guaranty Agreement among CQP, as borrower, certain subsidiaries of CQP, as subsidiary guarantors, various lenders (the “ CQP Lenders ”) and issuing banks, MUFG Bank, Ltd., as coordinating lead arranger, joint bookrunner and administrative agent, and SG Americas Securities, LLC as joint bookrunner for the CQP Lenders (the “ CQP Revolving Credit Facility ”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cheniere Energy, Inc. entered into SPL Revolving Credit Facility with MUFG Bank, Ltd., the Bank of Nova Scotia, Société Générale, and the SPL Lenders valued at $1 billion (effective 2023-06-23).

Action: entry
Agreement: credit facility
Counterparty: MUFG Bank, Ltd., the Bank of Nova Scotia, Société Générale, and the SPL Lenders
Value: $1 billion
Effective: 2023-06-23

Exact text from the filing

On June 23, 2023, Sabine Pass Liquefaction, LLC (“ SPL ”), a subsidiary of CEI, entered into a $1 billion Senior Secured Revolving Credit and Guaranty Agreement among SPL, as borrower, various lenders (the “ SPL Lenders ”) and issuing banks, MUFG Bank, Ltd., as coordinating lead arranger, the Bank of Nova Scotia, as senior facility agent and Société Générale, as common security trustee for the SPL Lenders (the “ SPL Revolving Credit Facility ”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cheniere Energy, Inc. entered into CQP Revolving Credit Facility with MUFG Bank, Ltd., SG Americas Securities, LLC, and the CQP Lenders valued at $1 billion (effective 2023-06-23).

Action: entry
Agreement: credit facility
Counterparty: MUFG Bank, Ltd., SG Americas Securities, LLC, and the CQP Lenders
Value: $1 billion
Effective: 2023-06-23

Exact text from the filing

On June 23, 2023, Cheniere Energy Partners, L.P. (“ CQP ”), a subsidiary of Cheniere Energy, Inc. (“ CEI ”), entered into a $1 billion Senior Unsecured Revolving Credit and Guaranty Agreement among CQP, as borrower, certain subsidiaries of CQP, as subsidiary guarantors, various lenders (the “ CQP Lenders ”) and issuing banks, MUFG Bank, Ltd., as coordinating lead arranger, joint bookrunner and administrative agent, and SG Americas Securities, LLC as joint bookrunner for the CQP Lenders (the “ CQP Revolving Credit Facility ”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Cheniere Energy, Inc. amended Common Terms Agreement with SPL, certain other parties, and Société Générale (effective 2023-06-23).

Action: amendment
Agreement: credit facility
Counterparty: SPL, certain other parties, and Société Générale
Effective: 2023-06-23

Exact text from the filing

In connection with the SPL Revolving Credit Facility, SPL also entered into the Fourth Amended and Restated Common Terms Agreement, among SPL and certain other parties thereto and Société Générale, as common security trustee (the “ Common Terms Agreement ”), which amends and restates the T

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Source: SEC EDGAR

accession 0001193125-23-175109

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