Stonepeak, an investment firm, and its partners have successfully raised $2 billion through a private placement of 4(a)(2) notes. This debt financing is intended for a partial refinancing of holdco indebtedness that was originally used to fund Stonepeak's acquisition of a 40% equity interest in Louisiana LNG Infrastructure LLC. The transaction was facilitated by Apollo and Apterra Infrastructure Capital, with Milbank LLP advising the noteholders.
Louisiana LNG is a significant liquefied natural gas production and export terminal located in Calcasieu Parish, Louisiana. It is owned by Woodside Energy Group Ltd and comprises three gas liquefaction plants, each capable of producing approximately 5.0 million tonnes per annum. The facility also includes related gas pre-treatment, processing, ancillary infrastructure, and LNG storage and marine export terminals. Stonepeak's initial investment in Louisiana LNG involved a commitment of $5.7 billion towards the project's capital expenditure, contributing 75% of the project's costs in both 2025 and 2026.
This $2 billion private placement partially refinances a commercial bank facility that closed in June 2025, where Milbank had previously represented the lenders. The successful execution of this private placement highlights the strength and attractiveness of the private placement market within the LNG sector and the broader energy and infrastructure landscape. The financing contributes to Stonepeak's role in developing critical North American LNG infrastructure with global impact.
