Venture Global announced that its subsidiary, Calcasieu Pass Funding, has closed a $1.75 billion senior secured term loan B credit facility, marking a significant financing milestone for the company.
The Arlington, Virginia-based liquefied natural gas exporter said it used a portion of the proceeds to fully redeem preferred equity previously held by Stonepeak Bayou Holdings II LP. The transaction is expected to reduce the company’s overall cost of capital, enhance liquidity, and strengthen its balance sheet.
The financing was led by Goldman Sachs as Lead Left Arranger and Bookrunner, with Barclays, Natixis, and Wells Fargo serving as Lead Right Arrangers and Joint Bookrunners. Legal counsel for the transaction included Latham & Watkins for Venture Global and Skadden, Arps, Slate, Meagher & Flom for the arrangers.
Venture Global is one of the largest LNG exporters in the United States, with more than 100 million tonnes per annum of capacity across projects in production, construction, and development. Its key facilities, including Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located along the U.S. Gulf Coast in Louisiana.
The company operates a vertically integrated LNG platform spanning production, transportation, shipping, and regasification, and is also developing carbon capture and sequestration projects across its facilities.
KEY QUOTE:
“We’re very pleased to successfully close this $1.75 billion secured credit facility, which represents a significant milestone for our company. This transaction meaningfully reduces our overall cost of capital while further strengthening our balance sheet and liquidity position. Just as importantly, it demonstrates our continued ability to efficiently access the capital markets, even in a dynamic environment. We believe this enhanced financial flexibility positions us well to execute on our strategic priorities and drive long-term value for our stakeholders.”
Mike Sabel, CEO of Venture Global
