Venture Global LNG, Inc., a subsidiary of Venture Global, Inc. (NYSE: VG), announced plans to offer $2.25 billion in senior secured notes due 2034 and 2036. The company intends to use proceeds from the private offering to redeem all outstanding 8.125% senior secured notes due 2028.

The notes will be offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The offering is subject to market conditions and other factors, with no assurance regarding completion timing or terms.

Venture Global plans to use gross proceeds to redeem the existing 2028 notes and apply cash on hand for redemption premiums and related fees. The redemption is conditional on the new offering generating sufficient proceeds equal to at least the principal amount of the notes being redeemed.

The new notes will initially lack guarantees from subsidiaries but may receive guarantees in the future if certain subsidiaries incur specified debt amounts. The notes will be secured by the same collateral that backs existing notes and the company's revolving credit facility, except during periods when the notes achieve investment grade ratings.

Venture Global operates as a liquefied natural gas producer and exporter with facilities in Louisiana. The company began LNG production from its first facility in 2022 and reports having over 100 million tonnes per annum of capacity across production, construction, and development phases.

The notes have not been registered under the Securities Act and will only be available to qualified institutional buyers. The company stated the press release does not constitute an offer to sell or solicitation to buy the securities.