Cheniere Energy Partners Upsizes IPO to $720 Million

Cheniere Energy, Inc. has reported that one of its wholly owned subsidiaries, Cheniere Energy Partners LP Holdings, LLC has upsized and priced its previously announced initial public offering of common shares representing limited liability company interests in Holdings pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission. 

The size of the offering has been increased from the initially announced 30,000,000 common shares to 36,000,000 common shares at a price to the public of $20.00 per share. The shares are expected to begin trading on NYSE MKT on December 13, 2013 under the symbol "CQH".  In addition, the underwriters have been granted a 30-day option to purchase an additional 5,400,000 common shares. The offering is expected to close on December 18, 2013, subject to customary closing conditions.

Cheniere will ultimately receive the net proceeds from the initial public offering as a result of the repayment of indebtedness owed by Holdings to Cheniere and the payment of a distribution to Cheniere. Cheniere intends to use the cash it receives from Holdings for the development of its existing assets, future projects and general corporate purposes.

Goldman, Sachs & Co., Morgan Stanley, Credit Suisse and RBC Capital Markets are the joint book-running managers for the offering. In addition, Barclays, Citigroup, J.P. Morgan, Societe Generale, Mitsubishi UFJ Securities, Mizuho Securities, Scotiabank / Howard Weil, HSBC, Banca IMI and SMBC Nikko are acting as the co-managers in the transaction. The offering of common shares will be made only by means of a prospectus.