Cheniere Energy Partners, L.P. announced the pricing of an underwritten public offering of 3,000,000 common units representing limited partner interests of Cheniere Partners and a concurrent offering to Cheniere Common Units Holding, LLC, a wholly owned subsidiary of Cheniere Energy, Inc., of 622,131 common units at the same price as the public offering, which was $15.25 per common unit.
Citigroup is acting as underwriter of the public offering.
Cheniere Partners granted the underwriter a 30-day option to purchase up to 450,000 additional common units to cover overallotments.
If the underwriter does not exercise in full its option to purchase additional common units in the public offering, Cheniere Common Units Holding, LLC will purchase such unsold common units.
Cheniere Partners estimates that the net proceeds from the offerings will be approximately $60 million.
Cheniere Partners intends to use the net proceeds for general business purposes, including development costs of its expansion project to add liquefaction capacity at the Sabine Pass LNG terminal.
The closing of the offering is expected to occur on September 19, 2011.
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Source: Cheniere, September 15, 2011;