Cases & Deals

RRJ Capital, and affiliates of Temasek Holdings, and Seatown Holdings purchase US$1 billion of Unsecured Convertible PIK Notes of Cheniere Energy

Clients RRJ Capital II Limited, and affiliates of Temasek Holdings (Private) Limited, and Seatown Holdings Pte. Ltd.

Jones Day represented RRJ Capital II Limited, and affiliates of Temasek Holdings (Private) Limited, and Seatown Holdings Pte. Ltd. in connection with their purchase of US$1 billion aggregate principal amount of Unsecured Convertible PIK Notes due 2021 issued by Cheniere Energy, Inc., a Houston-based energy company primarily engaged in LNG related businesses.

The Notes have a maturity of six and a half years, and accrue interest at a rate of 4.875% per annum, which is payable in kind (PIK) by increasing the principal amount of the Notes outstanding. The Notes will be Convertible into the Common Stock of Cheniere Energy, Inc. on the occurrence of certain specified events, and in any event at any time following the first anniversary of closing of the transaction, at an initial conversion price of $93.64, which represents 130% of the closing price of the Common Stock of Cheniere on Monday, November 10, 2014.

Proceeds from the Notes will be used by Cheniere Energy, Inc. to fund a portion of the costs of developing, constructing, and placing into service the Corpus Christi liquefaction project, related pipeline infrastructure, and general corporate purposes.

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