Commonwealth LNG Secures 20-Bank Financing for Louisiana Export Terminal

One Gulf Coast LNG project is attracting significant backing from global financial institutions as competition for export capacity continues to grow.

(P&GJ) — Commonwealth LNG has secured commitments from a syndicate of 20 international financial institutions to support financing for its 9.5-MMtpy LNG export facility in Cameron Parish, Louisiana, marking another milestone following the project's recent final investment decision (FID).

Project developer Caturus said the financing package includes project finance-style debt facilities, term loans and additional funding for reserves and working capital requirements.

LEARN MORE: Caturus Reaches FID on $9.75 Billion Commonwealth LNG Project

The lender group includes major North American, European, Asian and Middle Eastern financial institutions, including Bank of America, Citibank, HSBC, Barclays, MUFG, Royal Bank of Canada, Scotiabank, Wells Fargo and several international banks.

The financing commitments support development of the Commonwealth LNG export terminal, which is planned for Louisiana's Gulf Coast and is expected to have a nameplate capacity of 9.5 MMtpy.

RBC Capital Markets served as debt financial advisor to Commonwealth LNG, while MUFG advised the project's holding company affiliate. Moelis & Company and MUFG Securities Americas served as equity placement agents for previously announced preferred equity financing.

The project is one of several LNG export developments advancing along the U.S. Gulf Coast as developers seek to meet growing global demand for liquefied natural gas.