Venture Global subsidiary closes $4bn senior secured notes
Venture Global’s subsidiary, Venture Global Plaquemines LNG (VGPL), has closed a $4bn offering of senior secured notes, aimed at refinancing existing debt and covering related expenses.
The offering was divided into two series: a $2bn series of 6.50% senior secured notes due in 2034, and a $2bn series of 6.75% senior secured notes maturing in 2036.
The 2034 notes are set to mature on 15 January 2034, and the 2036 notes on 15 January 2036.
The latest issuance brings the total aggregate amount of senior secured notes issued by VGPL to $6.5bn since the Plaquemines LNG project’s first phase began producing liquefied natural gas (LNG) in December 2024.
The project is located in Plaquemines Parish in the US state of Louisiana, 20 miles south of New Orleans. Upon completion, the Plaquemines LNG facility is anticipated to possess an export capability of at least 20 million tonnes per annum.
The initial issuance of $2.5bn in senior secured notes by VGPL was announced on 21 April 2025.
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By GlobalDataVGPL plans to utilise the net proceeds from this offering to prepay certain amounts under its existing senior secured first lien credit facilities, and to pay fees and expenses associated with the offering.
The notes have been guaranteed by Venture Global Gator Express, an affiliate of VGPL. They are secured by a first-priority security interest in the assets that also secure the existing credit facilities and the existing notes.
In June 2025, Venture Global withdrew its application to build the Delta LNG export facility in Louisiana, opting instead to concentrate on the Plaquemines expansion project.
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