Venture Global Reports Closing of $1.75 Billion Credit Facility

Venture Global (VG) said Friday its subsidiary Calcasieu Pass Funding, which indirectly controls the Calcasieu Pass project, has obtained a $1.75 billion senior secured term loan B credit facility.The company said it used part of the proceeds to redeem the preferred equity interests of the subsidiary that were previously issued to Stonepeak Bayou Holdings II."This transaction meaningfully reduces our overall cost of capital while further strengthening our balance sheet and liquidity position," said Chief Executive Officer Mike Sabel.Price: $12.70, Change: $-0.29, Percent Change: -2.23%

-- Venture Global (VG) said Friday its subsidiary Calcasieu Pass Funding, which indirectly controls the Calcasieu Pass project, has obtained a $1.75 billion senior secured term loan B credit facility.

The company said it used part of the proceeds to redeem the preferred equity interests of the subsidiary that were previously issued to Stonepeak Bayou Holdings II.

"This transaction meaningfully reduces our overall cost of capital while further strengthening our balance sheet and liquidity position," said Chief Executive Officer Mike Sabel.

Price: $12.70, Change: $-0.29, Percent Change: -2.23%