Company Update (NYSE MKT:LNG):Cheniere and EIG Finalize $1.5B Equity Investment for the Corpus Christi Liquefaction Project

Cheniere Energy, Inc. (“Cheniere”) (NYSE MKT: LNG) announced today that it has entered into a note purchase agreement with EIG Management Company, LLC (“EIG”) finalizing the definitive documentation for the previously announced financing under which investment funds managed by EIG will purchase $1.5 billion of convertible notes (the “Financing”). Proceeds from the Financing will be used as equity to fund a portion of the costs of developing, constructing and placing into service the Corpus Christi Liquefaction Project (the “Liquefaction Project”), which is being designed for up to three liquefaction trains with an expected aggregate annual production ca… Read more ยป

Shares of Cheniere Energy Inc. opened today at $73.06 and are currently trading down at $72.54. LNG has a 1-year high of $85 and a 1-year low of $40.43. The stock’s 50-day moving average is $68.56 and it’s 200-day moving average is $73.10.

On the ratings front, Cheniere Energy Inc. has been the subject of a number of recent research reports. In a report published on December 18, analyst William Frohnhoefer from BTIG maintained a Buy rating on LNG, with a price target of $100, which implies an upside of 36.9% from current levels. Separately, on December 15, Credit Suisse`s Abhiram Rajendran initiated coverage with a Buy rating on Cheniere Energy Inc. shares and has a price target of $84.

Cheniere Energy Inc is engaged in LNG-related businesses. It owns and operates the Sabine Pass LNG terminal in Louisiana through its ownership interest in and management agreements with Cheniere Energy Partners, L.P.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts