Simpson Thacher Represents Perry Capital in $400,000,000 Loan to Cheniere Energy, Inc.
06.01.07
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Simpson Thacher represented an affiliate of Perry Capital L.L.C. in extending a $400 million credit facility to Cheniere Energy, Inc., which is developing a network of three liquefied natural gas receiving terminals and related natural gas pipelines along the Gulf Coast of the United States. Cheniere is pursuing related business opportunities both upstream and downstream of the terminals. Cheniere is also the founder and holds a 30% limited partner interest in a fourth LNG receiving terminal.
Proceeds of the loan will be used, among other things, to purchase outstanding shares of Cheniere common stock. The loan is secured by the equity in certain of Cheniere's subsidiaries. Another affiliate of Perry Capital is a significant beneficial owner of Cheniere's shares.
The Simpson Thacher team for this transaction included George Miller, Mark Thompson, Kristin Johnson, Bryan Tollin and Terry Sanders.