On May 13, 2014, midstream player
Cheniere Energy Partners LP
), declared the pricing of 5.75% senior notes by Sabine Pass
Liquefaction, LLC, its fully owned affiliate. The principal amount
of the secured notes which was previously reported at $1.5 billion
has been upsized to $2.0 billion. The offering of the notes − about
to mature by May 15, 2024 - is anticipated to close by May 20,
Sabine Pass reveals that the notes are expected to be priced at
par. The offering's net proceeds will likely bear capital expenses
related to the manufacture of first four liquefaction trains. The
trains will be constructed at Cameron Parish, LA based facility of
Sabine Pass. The proceeds will also be used for paying debt and
cost related to the offering of the notes.
On May 1, Cheniere Energy Partners reported its first-quarter
results. The partnership reported a loss of 6 cents per share
against the year-ago profit of 10 cents. Increased expenses related
to operating and maintaining activities hampered the results. On
the flip side, the first quarter loss bettered the Zacks Consensus
Estimate of loss of 86 cents.
Cheniere Energy Partners currently retains a Zacks Rank #3 (Hold),
implying that it is expected to perform in line with the broader
U.S. equity market over the next one to three months.
Meanwhile, one can look at better-ranked players in the same
EQT Midstream Partners LP
Holly Energy Partners L.P
Pembina Pipeline Corporation
). All these stocks sport a Zacks Rank #1 (Strong Buy).
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