Venture Global LNG, Inc. ("Venture Global") announced that it has closed its inaugural offering of $4,500 million aggregate principal amount of senior secured notes which have been issued in two series: (i) a series of 8.125% senior secured notes due 2028 in an aggregate principal amount of $2,250 million (the "2028 Notes") and (ii) a series of 8.375% senior secured notes due 2031 in an aggregate principal amount of $2,250 million (the "2031 Notes" and, together with the 2028 Notes, the "Notes"). The 2028 Notes will mature on June 1, 2028 and the 2031 Notes will mature on June 1, 2031. The Notes were issued at par. The aggregate principal amount of issued Notes represents an increase of $1,000 million from the initially offered amount of $3,500 million.
Venture Global intends to use the net proceeds from the offering (i) to prepay, in full, its existing senior secured first lien credit facilities, (ii) to pay fees and expenses in connection with the offering, and (iii) for general corporate purposes. The Notes are secured on a pari passu basis by a first-priority security interest in substantially all of the existing and future assets of Venture Global and the future guarantors, if any, subject to customary exclusions.
The Notes were not 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.
