initial public offerings (IPOs) trading on American exchanges

Friday, December 13, 2013

Cheniere Energy Partners (CQH) began trading on the NYSE Amex on 13 December 2013

Cheniere Holdings issued 36 million shares of stock it its IPO, at a price of $20 a share. The amount of stock issued was boosted from 30 million when the IPO pricing was announced Thursday night. Underwriters have a 30-day option on an additional 5.4 million shares.

Cheniere Holdings’ sole purpose is to be a repository for the Cheniere Energy Inc.’s (NYSEMKT: LNG) holdings in Cheniere Energy Partners L.P. (NYSEMKT: CQP). Cheniere Energy ultimately will receive all the proceeds from the IPO.

Cheniere will ultimately receive the net proceeds from the initial public offering as a result of the repayment of indebtedness owed by Holdings to Cheniere and the payment of a distribution to Cheniere. Cheniere intends to use the cash it receives from Holdings for the development of its existing assets, future projects and general corporate purposes.

Goldman, Sachs & Co., Morgan Stanley, Credit Suisse and RBC Capital Markets are the joint book-running managers for the offering. In addition, Barclays, Citigroup, J.P. Morgan, Societe Generale, Mitsubishi UFJ Securities, Mizuho Securities, Scotiabank / Howard Weil, HSBC, Banca IMI and SMBC Nikko are acting as the co-managers in the transaction. The offering of common shares will be made only by means of a prospectus.

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