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Cheniere subsidiary to offer $1B of senior notes

Cheniere Corpus Christi Holdings LLC will be offering $1.0billion of senior notes due 2024.

The CheniereEnergy Inc. subsidiary plans to use the net proceeds to prepay partof the amounts outstanding under its credit facilities and to pay fees andexpenses connected to the offering, according to a May 10 news release.

The notes will be secured by a first priority securityinterest in all of Cheniere Corpus Christi Holdings' assets, as well as apledge of all the equity interests in the company.

Cheniere's Corpus Christi liquefaction project is beingdesigned to have three trains with expected production capacity of up to 13.5million tonnes of LNG per year. Cheniere reached final investment decision andissued a notice to start construction on the first two trains in May 2015.Cheniere expects trains 1 and 2 to be substantially complete in 2019.