Triloma EIG Global Energy Term Fund I has begun investment operations with an investment in senior secured notes issued by Sabine Pass Liquefaction (Sabine Pass).
Sabine Pass is a project company formed to own, develop and operate natural gas liquefaction facilities in Cameron Parish, Louisiana. The notes, which mature on 15 March, 2022, are secured by a first lien security interest in substantially all of the assets of Sabine Pass. The project is supported by fixed price, 20-year liquefied natural gas (LNG) sale and purchase agreements with investment grade counterparties. In February 2016, the project achieved a milestone when the first cargo of LNG was exported. Sabine Pass was formed in 2010 by Cheniere Energy Partners, a publicly traded limited partnership and an indirect subsidiary of Cheniere Energy, a publicly traded Houston-based energy company primarily engaged in LNG-related businesses.
A full holdings report of the Fund's portfolio will be disclosed with its next quarterly N-Q filing with the US Securities and Exchange Commission.
