Venture Global announced that its wholly owned subsidiary, Venture Global Shipping Holdings, has entered into a senior secured term loan facility totaling up to $1.5 billion.
The facility was established through a Credit and Guaranty Agreement and will mature on June 26, 2032.
Venture Global Shipping Holdings plans to use the net proceeds from the facility for general corporate purposes.
Those purposes include reimbursing Venture Global LNG for payments previously made by the company or its affiliates in connection with the acquisition of nine LNG carriers.
Proceeds are also expected to be used to fund certain reserve accounts and pay transaction fees and expenses.
Deutsche Bank and ING acted as coordinating lead arrangers for the facility. ING is also serving as facility agent and security trustee.
Venture Global is a U.S. producer and exporter of liquefied natural gas. The company has more than 100 MTPA of capacity in production, construction, or development.
Venture Global began producing LNG from its first facility in 2022 and has grown into one of the largest LNG exporters in the United States.
The company’s vertically integrated business includes LNG production, natural gas transport, shipping, and regasification assets.
Venture Global’s first three projects — Calcasieu Pass, Plaquemines LNG, and CP2 LNG — are located in Louisiana along the Gulf of America. The company is also developing carbon capture and sequestration projects at each of its LNG facilities.
