Temasek, RRJ Capital revisit US LNG play with US$1b deal

Singapore

TEMASEK Holdings and private equity firm RRJ Capital are buying US$1 billion of convertible notes issued by US liquefied natural gas (LNG) company Cheniere Energy.

Proceeds of the notes will be used to help pay for a natural gas liquefaction project in Corpus Christi, Texas.

The six-and-a-half-year notes will pay interest at 4.875 per cent, payable in kind by increasing the principal amount of the outstanding notes. The notes are convertible into Cheniere common stock at US$93.64 per share, a 30 per cent premium to Cheniere's previo…