Venture Global, Inc. Announces Pricing of $2.25 Billion of Senior Secured Notes
Venture Global, Inc. (“Venture Global”, “we”, “us” or “our”) (NYSE: VG) today announced that its wholly-owned subsidiary, Venture Global LNG, Inc. (the “Issuer”), has priced $1.125 billion aggregate principal amount of its 6.375% senior secured notes due 2034 and $1.125 billion aggregate principal amount of its 6.625% senior secured notes due 2036 (collectively, the “Notes”), in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) or outside the United States to persons other than “U.S. persons” in reliance on Regulation S under the Securities Act.
The Issuer intends to use the gross proceeds from the offering to redeem all of the Issuer’s outstanding 8.125% senior secured notes due 2028 (the “Existing 2028 Notes”) and to use cash on hand to pay the redemption premium and related fees and expenses for the offering and the redemption. The redemption of the Existing 2028 Notes is expected to be conditioned on the closing of the offering, after the date hereof and on or prior to the redemption date, generating sufficient gross proceeds no less than the aggregate principal amount of the Existing 2028 Notes to be redeemed.
