01—Abstract
Summary
Summary of the 8-K filed May 27, 2026. Cited figures are marked; the original filing is the authoritative source.
On May 26, 2026, Cheniere Energy Partners, L.P.
(NYSE: CQP) entered into a Purchase Agreement with BofA Securities, Inc., as representative of the initial purchasers, to issue and sell $1 billiona aggregate principal amount of 5.350% Senior Notes due 2036 and $750 million aggregate principal amount of 6.050% Senior Notes due 2056. The 2036 Notes will be issued at 99.511% of par and the 2056 Notes at 99.698% of par. Cheniere Partners' subsidiaries Cheniere Energy Investments, LLC, Sabine Pass LNG-GP, LLC, Sabine Pass LNG, L.P., Sabine Pass Tug Services, LLC, Cheniere Creole Trail Pipeline, L.P. and Cheniere Pipeline GP Interests, LLC act as guarantors.
The Notes are expected to close on June 9, 2026, according to the pricing press release furnished as Exhibit 99.2. The same day, Sabine Pass Liquefaction, LLC (SPL), a wholly owned subsidiary, issued an irrevocable notice of full redemption for $1.5 billionb of its outstanding 5.00% Senior Secured Notes due 2027. The redemption price is the greater of 100% of principal and a make-whole amount based on the Treasury Rate plus 50 basis points, plus accrued and unpaid interest.
SPL intends to fund the redemption with the gross proceeds from the Notes and cash on hand. The Notes will rank pari passu in right of payment with existing senior notes due 2029 through 2035.
Proceeds are intended for general partnership purposes, which may include repaying, refinancing or redeeming existing indebtedness, including the 2027 SPL Notes, as well as capital expenditures, working capital and other business opportunities. The filing also notes that certain initial purchasers and their affiliates have provided, and may continue to provide, investment and commercial banking and financial advisory services to Cheniere Partners for customary fees.
02—Key points
Key Highlights
- Cheniere Partners agreed to sell $1 billion of 5.350% Senior Notes due 2036 at 99.511% of par and $750 million of 6.050% Senior Notes due 2056 at 99.698% of par.
- The Purchase Agreement was entered into May 26, 2026 with BofA Securities, Inc. as representative of the Initial Purchasers, with five subsidiary guarantors named.
- The Notes are expected to close on June 9, 2026, per the pricing press release.
- SPL issued an irrevocable notice to fully redeem $1.5 billion of its 5.00% Senior Secured Notes due 2027.
- The 2027 SPL Notes redemption price is the greater of par and a Treasury-based make-whole amount at Treasury Rate plus 50 basis points, plus accrued interest.
- SPL intends to fund the redemption with the gross proceeds from the Notes and cash on hand.
- The Notes will rank pari passu with existing senior notes due 2029, 2031, 2032, 2033, 2034 and 2035.
03—Questions
Frequently Asked Questions
What debt is Cheniere Partners issuing?
Cheniere Partners agreed to issue $1 billion aggregate principal amount of 5.350% Senior Notes due 2036 and $750 million aggregate principal amount of 6.050% Senior Notes due 2056, under a Purchase Agreement dated May 26, 2026 with BofA Securities, Inc. as representative of the Initial Purchasers.
At what prices will the Notes be issued?
The 2036 Notes will be issued at 99.511% of par and the 2056 Notes at 99.698% of par. The 2036 Notes mature November 30, 2036, and the 2056 Notes mature November 30, 2056.
Why is SPL redeeming its 2027 notes?
SPL issued an irrevocable notice of full redemption for $1.5 billion of its 5.00% Senior Secured Notes due 2027. The filing states SPL intends to fund the redemption with the gross proceeds from the Notes and cash on hand. The Notes' proceeds may also be used for repaying, refinancing or redeeming existing indebtedness, including these notes.
How much will SPL pay to redeem the 2027 notes?
The redemption price is the greater of 100% of the principal amount and the present value of remaining scheduled principal and interest payments through September 15, 2026, discounted at the Treasury Rate plus 50 basis points, plus accrued and unpaid interest to the redemption date.
How will the new Notes rank against existing debt?
The Notes will rank pari passu in right of payment with Cheniere Partners' existing senior notes due 2029, 2031, 2032, 2033, 2034 and 2035.
04—Continue