Key Developments: Cheniere Energy Partners LP (CQP)
28.50USD
17 May 2013
$-0.13 (-0.45%)
$28.63
$28.56
$28.87
$28.24
185,360
280,162
$28.99
$17.59
Latest Key Developments (Source: Significant Developments)
Cheniere Energy Partners LP Declares Quarterly Distributions
Cheniere Energy Partners LP announced that it has declared a cash distribution per common unit of $0.425 ($1.70 annualized) to unitholders of record as of May 1, 2013, and the related distribution to its general partner. All of these distributions are payable on May 15, 2013. Full Article
Cheniere Energy Partners LP Announces Offering Of $0.5 Billion Senior Secured Notes And $1.0 Billion Senior Secured Notes due 2023 By Sabine Pass Liquefaction
Cheniere Energy Partners LP announced that wholly owned subsidiary, Sabine Pass Liquefaction, LLC, intends to offer, $0.5 billion principal amount of Senior Secured Notes due 2021 (SPL 2021 Notes) and $1.0 billion principal amount of Senior Secured Notes due 2023 (SPL 2023 Notes), collectively, the Notes. The SPL 2021 Notes will constitute a further issuance of and will form a single series with the 5.625% Senior Secured Notes due 2021 (Outstanding 2021 Notes) that were issued by Sabine Liquefaction on February 1, 2013. Sabine Liquefaction intends to use the net proceeds from the offering to pay capital costs in connection with the construction of the first two LNG liquefaction trains at facility in Cameron Parish, Louisiana and fees and expenses incurred associated with the offering. The net proceeds will be used in lieu of a portion of Sabine Liquefaction's $3.6 billion Term Loan A Credit facility. Full Article
Centrica PLC Signs Long-Term North American LNG Export Contract With Cheniere Energy Partners, L.P
Centrica PLC announced that it has entered into an agreement with Cheniere Energy Partners, L.P, to purchase 91,250,000 mmbtu (89 billion cubic feet) of annual liquefied natural gas (LNG) volumes for export from the Sabine Pass liquefaction plant in Louisiana in the United States. This amounts to approximately 1.75 million metric tonnes per annum (mmtpa), and is the equivalent of the annual gas demand of around 1.8 million UK homes. The contract is for an initial 20 year period, with the option for a 10 year extension, and the target date for first commercial delivery is September 2018. Under the terms of the agreement, Centrica will purchase LNG on a ‘Free on Board’ (FOB) basis, giving it destination rights for the cargoes, for a purchase price indexed to the Henry Hub natural gas price plus a fixed component. Centrica will export gas from the fifth LNG train at Sabine Pass, on which preliminary engineering work has already begun. The contract is subject to a number of conditions precedent, including Cheniere receiving the necessary regulatory approvals, securing finance, making a final investment decision and issuing a notice to proceed with the fifth LNG train. Full Article
Cheniere Energy Partners LP Announces Registered Direct Offering Of Common Units
Cheniere Energy Partners LP announced that it has entered into a purchase agreement with institutional investors to sell approximately 17.6 million common units for net proceeds, after deducting expenses, of approximately $372.2 million, which includes the general partner's proportionate capital contribution of approximately $7.4 million to maintain its 2% general partner interest. Investors primarily include affiliates of RRJ Capital and GSO Capital. The offering is expected to close and settle on March 1, 2013. Cheniere Partners intends to use the proceeds from the offering for costs associated with the liquefaction project being developed adjacent to the existing Sabine Pass LNG terminal and general business purposes. Full Article
Cheniere Energy Partners LP Declares Quarterly Distributions
Cheniere Energy Partners LP announced that it declared a cash distribution per common unit of $0.425 ($1.70 annualized) to unitholders of record as of February 1, 2013, and the related distribution to its general partner. All of these distributions are payable on February 14, 2013. Full Article
Cheniere Energy Partners LP's Subsidiary Enters Into Lump Sum Turnkey Contract With Bechtel
Cheniere Energy Partners announced that its subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Liquefaction"), and Bechtel Oil, Gas and Chemicals, Inc. ("Bechtel") have entered into a lump sum turnkey contract for the engineering, procurement and construction of the third and fourth liquefaction trains to be constructed adjacent to the Sabine Pass LNG terminal located in Cameron Parish, Louisiana (the "Trains 3&4 EPC Contract"). Sabine Liquefaction intends to give Bechtel a notice to proceed ("NTP") with construction for the third and fourth liquefaction trains upon achieving acceptable financing arrangements and making a final investment decision. Construction for the third and fourth trains is expected to begin in the first half of 2013. Sabine Liquefaction issued NTP to Bechtel and commenced full construction for the first two liquefaction trains in August 2012. The total contract price of the Trains 3&4 EPC Contract is approximately $3.8 billion. Total expected costs for the third and fourth liquefaction trains before financing costs are estimated to be between $4.5 billion and $5.0 billion, including an estimate for owner's costs and contingencies. Full Article
Cheniere Energy Partners LP Announces Closing Of $420 Million Senior Secured Notes Due 2020 By Sabine Pass LNG-DJ
Dow Jones reported that Cheniere Energy Partners, L.P.'s Sabine Pass LNG, L.P. (SPLNG), closed a private placement of $420 million aggregate principal amount of its 6.5% Senior Secured Notes due 2020 (the 2020 Notes). SPLNG intends to use the net proceeds from this offering plus a portion of the net proceeds from the recently closed equity offering of Cheniere Partners' common units to fund its tender offer for its 7.25% Senior Secured Notes due 2013. Full Article
Cheniere Energy Partners LP Announces Closing Of Public Offering Of Common Units
Cheniere Energy Partners LP announced the closing of its previously announced underwritten public offering of common units representing limited partner interests of Cheniere Partners. The previously announced 8,000,000 common units were sold to the public at a price of $25.07 per unit. The net proceeds of the offering, after deducting underwriting discounts and estimated offering expenses, were approximately $194.0 million. Cheniere Partners intends to use the net proceeds from the offering to repay a portion of the $550 million principal amount outstanding of the 7.25% Senior Secured Notes due November 2013 that was issued by Sabine Pass LNG, L.P., The Company wholly owned subsidiary, and, to the extent not so used, for general business purposes. The offering was made pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (the Securities and Exchange Commission). Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Citigroup, Deutsche Bank Securities, J.P. Morgan Securities LLC, and RBC Capital Markets served as the representatives of the underwriters in the offering. Full Article
Cheniere Energy Partners LP Announces Pricing of Offering of Common Units
Cheniere Energy Partners LP announced the pricing of its previously announced underwritten public offering of 8,000,000 common units representing limited partner interests of Cheniere Partners at a price of $25.07 per common unit. Underwriters of the public offering include Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Citigroup, Deutsche Bank Securities, J.P. Morgan Securities LLC, and RBC Capital Markets. Cheniere Partners has also granted the underwriters a 30-day option to purchase up to 1,200,000 additional common units to cover any over-allotments. Cheniere Partners intends to use the net proceeds for partial repayment of the 7.25% Senior Secured Notes due November 2013 that was issued by Sabine Pass LNG, L.P., our wholly owned subsidiary, and, to the extent not so used, for general business purposes. The closing of the offering is expected to occur on September 25, 2012. Full Article
Cheniere Energy Partners LP Announces Offering of Common Units
Cheniere Energy Partners LP announced that it is launching an offering for 8,000,000 of its common units representing limited partner interests in an underwritten public offering pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The underwriters, including Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Citigroup, Deutsche Bank Securities, J.P. Morgan Securities LLC, and RBC Capital Markets, will have a 30-day option to purchase up to an aggregate of 1,200,000 additional common units from Cheniere Partners to cover any over-allotments. The Company intends to use the net proceeds from the offering to repay a portion of the $550 million principal amount outstanding of the 7.25% Senior Secured Notes due November 2013 issued by Sabine Pass LNG, L.P., which is our wholly owned subsidiary, and, to the extent not so used, for general business purposes. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
