Commonwealth LNG owner says 20 institutions commit financing for Louisiana export facility
June 10 (Reuters) - Caturus said on Wednesday 20 international banks had committed to provide project financing for its Commonwealth LNG export facility in Cameron Parish, Louisiana.
The Commonwealth LNG facility is designed to export 9.5 million tonnes of liquefied natural gas a year.
Last month, Caturus approved construction of the Commonwealth LNG project after securing $9.75 billion in financing. The project is expected to cost $12.5 billion, including financing fees.
The company said the lending group had committed to a financing package that includes project finance-style debt, term loans and additional facilities to support reserve and working capital requirements for the project.
Caturus said the financing commitments came from a syndicate of 20 banks acting as Initial Coordinating Lead Arrangers.
The group includes Abu Dhabi Commercial Bank PJSC, Bank of America, Citibank, Barclays, HSBC, MUFG, Royal Bank of Canada, Standard Chartered, Wells Fargo and several other international lenders.
