Bulletin: Cheniere Energy Inc. Increases Senior Note Issuance To $2 Billion

TORONTO (S&P Global Ratings) Sept. 16, 2020--S&P Global Ratings today said the increase in issuance size of Cheniere Energy Inc.'s (BB/Negative/--) senior notes due 2028 to $2.0 billion from $1.0 billion does not affect affect the company's credit quality. This amount is an increment to a $1 billion issuance earlier in the week to refinance existing debt due 2023. To recall, even as the notes will initially be secured, the indenture contains provisions for the security to fall away once the CEI term loan has been completely refinanced. Accordingly, we have rated the new notes on an unsecured basis.The issue-level rating remains 'BB', with a '3' recovery rating. In addition, the issuer credit rating remains 'BB', with a negative outlook,

...September 16, 2020 TORONTO (S&P Global Ratings) Sept. 16, 2020--S&P Global Ratings today said the increase in issuance size of Cheniere Energy Inc.'s (##/Negative/--) senior notes due 2028 to $2.0 billion from $1.0 billion does not affect affect the company's credit quality. This amount is an increment to a $1 billion issuance earlier in the week to refinance existing debt due 2023. To recall, even as the notes will initially be secured, the indenture contains provisions for the security to fall away once the CEI term loan has been completely refinanced. Accordingly, we have rated the new notes on an unsecured basis.The issue-level rating remains '##', with a '3' recovery rating. In addition, the issuer credit rating remains '##', with a negative outlook, and issue-level rating on the senior secured revolver remains '###-'....

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