LNG player Cheniere said that it has priced an offering of its 4.25% convertible senior notes due 2045 through an SEC registered direct offering.
The aggregate principal amount of the offering was $625 million. The convertible notes will bear interest at a rate of 4.25% per annum, paid semi-annually in arrears, and will mature on March 15, 2045, the company said in a statement.
The net proceeds to Cheniere from the offering of the convertible notes are expected to be approximately $500 million, before transaction fees and expenses. The net proceeds will be used by Cheniere for general corporate purposes, it said.
Closing is expected to occur March 9, 2015. Lazard Frères & Co. acted as placement agent.