Cheniere to sell $1.5bn in shares

Sabine pass facility: Company sells more shares to aid with financing

related stories

By News wires

 15 May 2012 20:48 GMT

Cheniere Energy Partners agreed to sell $1.5 billion in stock to investors affiliated with Blackstone Group at a discount in its continued aggressive effort to raise funds for construction of a natural gas export facility.

Investment funds managed by Blackstone Energy Partners and Blackstone Capital Partners VI have agreed to buy 100 million units for $15 each, a 40% discount to the oil and gas company's Monday closing price, Dow Jones reported.

The investment is in addition to a previously announced agreement by affiliated company Cheniere Energy (LNG) to buy $500 million in Cheniere Energy Partners' stock, a deal it has financed by selling equity to Singapore state-investment firm Temasek Holdings and private equity firm RRJ Capital, the news wire said.

Cheniere, which is awash in debt, has…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index