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ARLINGTON, Va., Nov. 9, 2023 /PRNewswire/ -- Venture Global LNG, Inc. ("Venture Global") announced today that it has closed its offering of $1 billion aggregate principal amount of senior secured notes which have been issued in two series: (i) a series of 9.500% senior secured notes due 2029 in an aggregate principal amount of $500 million (the "2029 Notes") and (ii) a series of 9.875% senior secured notes due 2032 in an aggregate principal amount of $500 million (the "2032 Notes" and, together with the 2029 Notes, the "Notes"). The 2029 Notes offered are a reopening of the $2.5 billion 9.500% senior secured notes due 2029 and the 2032 Notes offered are a reopening of the $1.5 billion 9.875% senior secured notes due 2032 issued by Venture Global on October 24, 2023.
The 2029 Notes will mature on February 1, 2029 and the 2032 Notes will mature on February 1, 2032. The Notes were issued at 101.000% of the principal amount thereof, plus accrued interest from October 24, 2023 and reflected an increase of $250 million over the previously announced offering size. The Notes are secured on a pari passu basis by a first-priority security interest in substantially all of the existing and future assets of Venture Global and the future guarantors, if any, subject to customary exclusions. This offering takes Venture Global's total year-to-date high yield debt raised to $9.5 billion, which marks the largest U.S. dollar high yield issuance by volume in a single year since 2015.
The Notes were not registered under the Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any state or other jurisdictions, and the Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Venture Global
Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022. The company's second facility, Plaquemines LNG, is under construction and expected to produce first LNG in 2024. The company is currently constructing and developing over 70 MTPA of nameplate production capacity to provide clean, affordable energy to the world. Venture Global is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.
Forward-Looking Statements
This press release contains certain statements that may include "forward-looking statements." All statements, other than statements of historical or present facts or conditions, included herein are "forward-looking statements." Included among "forward- looking statements" are, among other things, statements regarding Venture Global's business strategy, plans and objectives, including the use of proceeds from the offering. Venture Global believes that the expectations reflected in these "forward-looking statements" are reasonable, they are inherently uncertain and involve a number of risks and uncertainties beyond Venture Global's control. In addition, assumptions may prove to be inaccurate. Actual results may differ materially from those anticipated or implied in "forward-looking statements" as a result of a variety of factors. These "forward-looking statements" speak only as of the date made, and other than as required by law, Venture Global undertakes no obligation to update or revise any "forward-looking statement" or provide reasons why actual results may differ, whether as a result of new information, future events or otherwise.
