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Cheniere boosts working capital facility to $1.2B for Corpus Christi LNG project

Cheniere Energy Inc.'s subsidiary Cheniere Corpus Christi Holdings LLC reached an agreement with its lenders to amend its working capital facility to raise the total committed amount from $850 million to $1.2 billion.

Cheniere Corpus Christi Holdings would use loans drawn from the facility for the development and operation of the Corpus Christi natural gas liquefaction and export project and related gas pipeline in Texas, according to a July 2 SEC filing. The working capital facility has a maturity date of June 29, 2023.

The Bank of Nova Scotia is acting as the working capital facility agent and Société Générale is acting as the security trustee. Cheniere Corpus Christi Pipeline LP, Corpus Christi Pipeline GP LLC and Corpus Christi Liquefaction LLC are acting as the guarantors.

The U.S. LNG export pioneer Cheniere plans to expand its Corpus Christi LNG project in a third development stage that would add up to 11.45 million tonnes per annum of liquefaction capacity and a 1.5 Bcf/d gas pipeline delivering gas supplies to the new facilities.