Liquefied natural gas supplier Venture Global Inc. is seeking a $1.75 billion loan to redeem preferred equity owned by a Stonepeak Partners LP fund.
The loan is being pitched at an interest rate of 3.5 to 3.75 percentage points over the benchmark, offered at a discounted price of 98 cents to 98.5 cents on the dollar, according to a person with direct knowledge of the matter.
Stonepeak helped fund the construction of Venture Global’s Calcasieu Pass LNG facility in Louisiana, which has become a key supplier of the super-chilled fuel to global markets. The private equity firm owns a roughly ...
