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Cheniere ups borrowing capacity to help fund 3rd train at Corpus Christi LNG

Cheniere Energy Inc., through its subsidiary Cheniere Corpus Christi Holdings LLC, successfully expanded its borrowing capacity, increasing the funds available for use to help fund the third liquefaction train at its Corpus Christi export project, according to a May 24 SEC filing.

Cheniere amended and increased its existing term loan agreement to provide up to about $1.5 billion of incremental commitments, increasing the total principal amount outstanding and committed under the term loan facility agreement to about $6.1 billion. The facility is being used to fund a portion of the cost of developing, constructing and operating the Corpus Christi Liquefaction Project, including Trains 1, 2 and 3 and associated pipeline and other infrastructure at or near the project, and for related business purposes.

The banks include ABN Amro Capital USA LLC, Bank of America NA, Bank of China New York Branch, The Bank of Nova Scotia Houston Branch, Banco Bilbao Vizcaya Argentaria SA New York Branch, China Merchants Bank Co. Ltd. New York Branch, Citibank NA, Commonwealth Bank of Australia, Credit Suisse, DBS Bank Ltd., Goldman Sachs Bank USA, HSBC Bank USA NA, Industrial and Commercial Bank of China Ltd. New York Branch, ING Capital LLC, Intesa Sanpaolo SpA New York Branch, JPMorgan Chase Bank NA, Lloyds Bank PLC, Mizuho Bank Ltd., Morgan Stanley Senior Funding Inc., MUFG Bank Ltd., RBC Capital Markets, Santander Bank NA, Société Générale, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.

Cheniere recently announced that it is moving forward with a third liquefaction train at its Corpus Christi LNG export terminal under construction in Texas that would add 4.5 million tonnes per annum, or roughly 0.7 Bcf/d, of LNG export capacity and bring total capacity at the facility to roughly 2.1 Bcf/d.

The Corpus Christi export terminal being developed in Texas is designed to have five liquefaction trains and an overall LNG production capacity of up to 22.5 million tonnes per annum.