Cheniere Energy (LNG+0.7%) will sell $2.5B in convertible notes to help fund construction of the Corpus Christi liquefaction project in Texas to export natural gas.
EIG Management and RRJ Capital will buy the notes, which can be converted into LNG common stock; RRJ will have the right to transfer a portion of the notes to Temasek Holdings, Singapore’s state-owned investment company.
The Corpus Christi facility would be LNG’s second project to export natural gas from U.S. shale production; the company's Sabine Pass terminal in Louisiana is under construction.
LNG Price at posting:
$3.77 Sentiment: Hold Disclosure: Held