Venture Global Inc. (“Venture Global”) announced today that its subsidiary, Venture Global Plaquemines LNG, LLC (“VGPL”) has closed an offering of $2,500,000,000 aggregate principal amount of senior secured notes, which has been issued in two series: (i) a series of 7.50% senior secured notes due 2033 in an aggregate principal amount of $1,250,000,000 (the “2033 Notes”) and (ii) a series of 7.75% senior secured notes due 2035 in an aggregate principal amount of $1,250,000,000 (the “2035 Notes” and, together with the 2033 Notes, the “Notes”). The 2033 Notes will mature on May 1, 2033 and the 2035 Notes will mature on May 1, 2035.
VGPL intends to use the net proceeds from the offering to (i) prepay certain amounts outstanding under VGPL’s existing senior secured first lien credit facilities (the “Existing Credit Facilities”) and (ii) pay fees and expenses in connection with the offering. The notes are guaranteed by Venture Global Gator Express, LLC (VGPL’s affiliate). The Notes are secured on a pari passu basis by a first-priority security interest in the assets that secure the Existing Credit Facilities.
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.
