Venture Global LNG $4 billion senior secured notes offering

Davis Polk advised Venture Global LNG, Inc. in connection with a Rule 144A / Regulation S offering of $4 billion aggregate principal amount of its senior secured notes, which were issued in two series: a series of 9.500% senior secured notes due 2029 in an aggregate principal amount of $2.5 billion and a series of 9.875% senior secured notes due 2032 in an aggregate principal amount of $1.5 billion.

Venture Global is a long-term, low-cost provider of U.S. liquefied natural gas (LNG) sourced from resource-rich North American natural gas basins. Venture Global’s first facility, Calcasieu Pass, commenced producing LNG in January 2022. The company’s second facility, Plaquemines LNG, is under construction and expected to produce its first LNG in 2024. Venture Global is developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.

The Davis Polk capital markets team included partner Marcel Fausten and associates Dennis Chu, Courtney Clark and Agustin N. Lopez Roualdes. Partners Scott M. Herrig and Jeong M. Lee, counsel Jason Palios and Adela Troconis and associate Anmol Sheth provided finance advice. Counsel David A. Zilberberg provided environmental advice. All members of the Davis Polk team are based in the New York office.