Cheniere Prices IPO of Cheniere Energy Partners
Cheniere Energy, Inc. late Tuesday announced the pricing of the initial public offering of 13,500,000 common units representing limited partner interests in Cheniere Energy Partners, L.P. ("Cheniere Energy Partners") at $21 per common unit. Of the 13,500,000 common units being sold, Cheniere Energy Partners will sell 5,054,164 units and Cheniere LNG Holdings, LLC, a wholly owned subsidiary of Cheniere ("Holdings"), will sell 8,445,836 units. Holdings has also granted the underwriters a 30-day option to purchase up to an additional 2,025,000 common units at the same price to cover over-allotments.
The common units will begin trading Wednesday on the American Stock Exchange under the symbol "CQP". The offering is expected to close on or about March 26, 2007. The offering represents an approximate 8.2% interest in Cheniere Energy Partners.
Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC are acting as joint book-running managers and representatives of the underwriters. In addition, RBC Capital Markets Corporation, Sanders Morris Harris Inc., Stifel, Nicolaus & Company, Incorporated, Howard Weil Incorporated, Pritchard Capital Partners LLC and FIG Partners, LLC Energy Capital Group are acting as co-managers for the offering.
A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. An offer will be made only by means of the prospectus. A copy of the final prospectus relating to the offering may be obtained, when available, from Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, N.Y. 11220 (tel.: 718-765-6732); Merrill Lynch, Pierce, Fenner & Smith Incorporated, 4 World Financial Center, 4th Floor, New York, New York 10080 (tel.: 212-449-1000); Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, New York 10010 (tel.: 800-221-1037); or from any of the underwriters.
Cheniere Energy Partners, L.P. is a limited partnership recently formed by Cheniere Energy, Inc. Through a wholly owned subsidiary, Cheniere Energy Partners will develop, own and operate the Sabine Pass LNG receiving terminal currently under construction in western Cameron Parish, Louisiana on the Sabine Pass Channel.
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