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HOUSTON - Cheniere Energy Partners, L.P. (NYSE:CQP), currently trading at $56.40 with a market capitalization of $27.3 billion, announced Wednesday its intention to offer Senior Notes due 2035, subject to market and other conditions. According to InvestingPro analysis, the company appears overvalued at current levels.
The company plans to contribute the proceeds to its subsidiary, Sabine Pass Liquefaction, LLC, which will use the funds to redeem a portion of its outstanding senior secured notes due 2026. With total debt standing at $14.8 billion and a current ratio of 0.88, this refinancing move comes as the company manages its substantial debt obligations.
The new 2035 notes will rank equally in right of payment with Cheniere Partners’ existing senior notes, including those due in 2029, 2031, 2032, 2033, and 2034.
The offering has not been registered under the Securities Act of 1933, and the notes may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.
Cheniere Partners is a liquefied natural gas (LNG) company with operations including the development and operation of liquefaction facilities. The announcement comes as part of the company’s ongoing debt management strategy.
This information is based on a press release statement from Cheniere Energy Partners.
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