Caturus said Wednesday it secured commitments from 20 international lenders for the financing of its 9.5 million metric tons per annum Commonwealth LNG export project in Louisiana.
The financing supports the previously announced Commonwealth LNG project in Cameron Parish and includes project-finance-style debt, along with related funding facilities, the company said.
The debt package combines long-term financing with additional funding capacity to support the project's development and operations.
Twenty lenders joined the syndicate as Initial Coordinating Lead Arrangers, including Abu Dhabi Commercial Bank, Banco Bilbao Vizcaya Argentaria, Banco Santander, Bank of America, Bank of China, Barclays and Canadian Imperial Bank of Commerce, according to Caturus.
The group also includes Citibank, DNB Capital, First Abu Dhabi Bank, HSBC Bank USA, Intesa Sanpaolo, MUFG Bank, National Bank of Canada, Royal Bank of Canada, Standard Chartered, The Bank of Nova Scotia, Truist Bank and Wells Fargo, the company said.
RBC Capital Markets advised Commonwealth LNG on debt financing, while MUFG Bank advised the project's HoldCo affiliate. Moelis & Company and MUFG Securities Americas served as equity placement agents.
Kirkland & Ellis acted as legal counsel to Caturus, while Sullivan & Cromwell advised Commonwealth LNG, Norton Rose Fulbright represented lenders and Jones Walker served as Louisiana counsel, the company said.