Venture Global announced that its wholly-owned subsidiary, Venture Global LNG (VGLNG), has entered into a new $3.0 billion, 364-day senior secured revolving credit facility. The proceeds are intended for general corporate purposes, including funding certain project costs for the CP2 and Plaquemines LNG bolt-on expansions prior to their final investment decisions.
Key Details
- Agreement: A 364-day senior secured revolving credit agreement providing for borrowings up to $3.0 billion.
- Parties: The agreement is between Venture Global LNG, Inc. and a consortium of lenders, with Bank of America, N.A. acting as the administrative agent.
- Maturity & Terms: The facility matures on September 1, 2027. Borrowings bear interest based on SOFR or a base rate, plus an applicable margin.
- Security: The facility is secured by a first-priority interest in substantially all existing and future assets of VGLNG.