06.08.2021 – 12:53
Venture Global LNG, Inc.
Arlington, Virginia (@ots/PRNewswire)
Venture Global LNG, Inc. (“Venture Global”) today announced that its subsidiary Venture Global Calcasieu Pass, LLC (“VGCP”) has completed a previously announced secured bond offering totaling $2,500,000,000, and issued in two series: ( 1) a series of 3.875% of the priority secured bonds maturing in 2029 for a total of $1,250,000,000 (“2029 bonds”); and (ii) a series of 4.125% of the priority secured bonds maturing in 2031 totaling $1,250,000,000 (“Notes 2031” and together with Notes 2029, “Notes”). The 2029 leaves ripen on August 15, 2029, and the 2031 leaves ripen on August 15, 2031.
VGCP intends to use the net proceeds of the Offer to pay in advance (i) certain amounts owed under the existing VGCP Secured First Privilege Credit Facility (“Existing Credit Facility”), (ii) payment of breakage and termination fees in connection with such prepayment; and (iii) pay the fees and expenses related to the offer. The bonds are secured by TransCameron Pipeline, LLC (a subsidiary of VGCP). The bonds are equally secured by a large collateral interest in the assets that secure the existing credit facility.
The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States unless they are registered under the Securities Act or are exempt from Securities Act registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to purchase these Notes, and no sale of these Notes may be made in any jurisdiction where such offer, solicitation or sale of Notes prior to registration or qualification under the securities laws of such jurisdiction would be unlawful.
About Venture Global
Venture Global is a long-term, low-cost LNG provider from rich natural gas reserves in North America. Venture Global is currently building or developing 70 MTPA manufacturing capacity in Louisiana to bring clean energy to the world at affordable prices.
This press release contains statements that may include “forward-looking” statements. All statements herein that are not historical or current facts or circumstances are “forward-looking statements”. “Forward-looking statements” include, but are not limited to, statements regarding Venture Global’s business strategy, plans and objectives, including the use of proceeds from the offering. While Venture Global believes that the expectations expressed 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, it may turn out that the assumptions were incorrect. Actual results could differ materially from those projected or implied in “forward-looking statements” due to a variety of factors. These “forward-looking statements” speak only as of the closing date, and Venture Global undertakes no obligation to update or revise any “forward-looking statements” or to state any reason as to why actual results may be due to a new finding. Information, future events, or otherwise may differ.
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