Venture Global Announces Upsizing and Pricing of $2,500,000,000 Senior Secured Notes by Venture Global Calcasieu Pass, LLC
PR90937
ARLINGTON, Va., July 30, 2021 /PRNewswire=KYODO JBN/ --
Venture Global LNG, Inc. ("Venture Global") announced today that its
subsidiary, Venture Global Calcasieu Pass, LLC ("VGCP") has successfully priced
its offering of $2,500,000,000 aggregate principal amount of senior secured
notes, which will be issued in two series: (i) a series of 3.875% senior
secured notes due 2029 in an aggregate principal amount of $1,250,000,000 (the
"2029 Notes") and (ii) a series of 4.125% senior secured notes due 2031 in an
aggregate principal amount of $1,250,000,000 (the "2031 Notes" and, together
with the 2029 Notes, the "Notes"). The 2029 Notes will mature on August 15,
2029 and the 2031 Notes will mature on August 15, 2031. The Notes will be
issued at par. The aggregate principal amount of Notes offered of
$2,500,000,000 represents an increase of $1,000,000,000 from the previously
offered amount of $1,500,000,000.
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VGCP intends to use the net proceeds from the offering to (i) prepay certain
amounts outstanding under VGCP's existing senior secured first lien credit
facilities (the "Existing Credit Facilities"), (ii) pay breakage and hedge
termination costs in connection with such prepayment and (iii) pay fees and
expenses in connection with the offering. On the issue date of the Notes,
TransCameron Pipeline, LLC (VGCP's affiliate) will guarantee the Notes. The
Notes will be secured on a pari passu basis by a first-priority security
interest in the assets that secure the Existing Credit Facilities.
The Notes will not be registered under the Securities Act of 1933, as amended
(the "Securities Act") or the securities laws of any state or other
jurisdictions, 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 the Notes,
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.
About Venture Global
Venture Global is a long-term, low-cost provider of U.S. LNG to be sourced from
resource rich North American natural gas basins. Venture Global is currently
constructing or developing 70 MTPA of production capacity in Louisiana to
provide clean, affordable energy to the world.
Forward-Looking Statements
This press release contains certain statements that may include
"forward-looking statements." All statements, other than statements of
historical or present facts or conditions, included herein are "forward-looking
statements." Included among "forward-looking statements" are, among other
things, statements regarding Venture Global's business strategy, plans and
objectives, including the use of proceeds from the offering. Venture Global
believes that the expectations reflected in these "forward-looking statements"
are reasonable, they are inherently uncertain and involve a number of risks and
uncertainties beyond Venture Global's control. In addition, assumptions may
prove to be inaccurate. Actual results may differ materially from those
anticipated or implied in "forward-looking statements" as a result of a variety
of factors. These "forward-looking statements" speak only as of the date made,
and other than as required by law, Venture Global undertakes no obligation to
update or revise any "forward-looking statement" or provide reasons why actual
results may differ, whether as a result of new information, future events or
otherwise.
SOURCE: Venture Global LNG, Inc.
CONTACT: shynes@venturegloballng.com
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