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[8-K] Venture Global, Inc. Reports Material Event

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(Neutral)
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8-K
Rhea-AI Filing Summary

On 28 Jul 2025, Venture Global’s subsidiary CP2 LNG, LLC secured $12.1 billion of first-lien project financing: a $11.25 billion construction term loan and a $850 million revolver/LC facility. Funds can be drawn until project completion or 23 Jan 2030, carry interest of SOFR + 2.25-2.75 % (Base Rate + 1.25-1.75 %) and mature 28 Jul 2032. Proceeds will cover Phase 1 costs of the CP2 LNG export terminal and CP Express pipeline in Cameron Parish, Louisiana.

Affiliate CP2 LNG Holdings, LLC closed $3.0 billion of equity-linked debt comprising a $2.809 billion equity bridge—fully drawn at closing—and a $191 million interest-reserve facility. These lines mature 28 Jul 2028 and price at SOFR + 3.50 % (Base Rate + 2.50 %). Bridge proceeds repay earlier May-2025 facilities and fund required equity injections into CP2.

All facilities are secured by first-priority liens on project and holding-company assets, permit penalty-free prepayment, and include covenants restricting additional debt, liens, asset sales and dividends. Venture Global LNG, Inc. provided a contingent equity support agreement funded by Plaquemines commissioning cargo sales.

Il 28 luglio 2025, la controllata di Venture Global, CP2 LNG, LLC, ha ottenuto un finanziamento di progetto con primo privilegio di 12,1 miliardi di dollari: un prestito a termine per la costruzione di 11,25 miliardi di dollari e una linea di credito/rivolvente da 850 milioni di dollari. I fondi possono essere prelevati fino al completamento del progetto o fino al 23 gennaio 2030, con un tasso d'interesse pari a SOFR + 2,25-2,75 % (Tasso Base + 1,25-1,75 %) e scadenza il 28 luglio 2032. I proventi copriranno i costi della Fase 1 del terminale di esportazione CP2 LNG e del gasdotto CP Express nella parrocchia di Cameron, Louisiana.

La affiliata CP2 LNG Holdings, LLC ha chiuso un debito collegato all'equity di 3,0 miliardi di dollari, comprendente un bridge equity da 2,809 miliardi di dollari—completamente utilizzato alla chiusura—e una linea di riserva per interessi di 191 milioni di dollari. Queste linee scadono il 28 luglio 2028 e sono quotate a SOFR + 3,50 % (Tasso Base + 2,50 %). I proventi del bridge serviranno a rimborsare i finanziamenti precedenti di maggio 2025 e a finanziare le iniezioni di capitale necessarie in CP2.

Tutte le linee di credito sono garantite da privilegi di primo grado sugli asset del progetto e della holding, consentono il rimborso anticipato senza penali e includono covenant che limitano ulteriori debiti, privilegi, vendite di asset e dividendi. Venture Global LNG, Inc. ha fornito un accordo di supporto azionario contingente finanziato dalle vendite di carichi di commissioning di Plaquemines.

El 28 de julio de 2025, la subsidiaria de Venture Global, CP2 LNG, LLC, aseguró un financiamiento de proyecto con primer gravamen por 12.100 millones de dólares: un préstamo a plazo para construcción de 11.250 millones de dólares y una línea revolvente/LC por 850 millones de dólares. Los fondos pueden ser retirados hasta la finalización del proyecto o hasta el 23 de enero de 2030, con un interés de SOFR + 2,25-2,75 % (Tasa Base + 1,25-1,75 %) y vencen el 28 de julio de 2032. Los ingresos cubrirán los costos de la Fase 1 de la terminal de exportación CP2 LNG y el gasoducto CP Express en la parroquia de Cameron, Luisiana.

La afiliada CP2 LNG Holdings, LLC cerró una deuda vinculada a capital por 3.000 millones de dólares, que comprende un puente de capital de 2.809 millones de dólares—totalmente utilizado al cierre—y una línea de reserva para intereses de 191 millones de dólares. Estas líneas vencen el 28 de julio de 2028 y tienen un precio de SOFR + 3,50 % (Tasa Base + 2,50 %). Los ingresos del puente se utilizarán para reembolsar las facilidades anteriores de mayo de 2025 y financiar las inyecciones de capital requeridas en CP2.

Todas las facilidades están garantizadas por gravámenes de primer grado sobre los activos del proyecto y de la empresa matriz, permiten el prepago sin penalización e incluyen convenios que restringen deuda adicional, gravámenes, ventas de activos y dividendos. Venture Global LNG, Inc. proporcionó un acuerdo de apoyo de capital contingente financiado por las ventas de cargas de puesta en marcha de Plaquemines.

2025� 7� 28�, Venture Global� 자회� CP2 LNG, LLC� 121� 달러 규모� 1순위 프로젝트 금융� 확보했습니다: 112� 5천만 달러� 건설 기간 대출과 8� 5천만 달러� 리볼�/신용� 시설입니�. 자금은 프로젝트 완료 또는 2030� 1� 23일까지 인출 가능하�, 이자� SOFR + 2.25-2.75% (기준금리 + 1.25-1.75%)이며 만기� 2032� 7� 28일입니다. 수익금은 루이지애나 카메� 교구� 위치� CP2 LNG 수출 터미널과 CP Express 파이프라� 1단계 비용� 충당� 예정입니�.

계열� CP2 LNG Holdings, LLC� 30� 달러 규모� 주식 연계 부채를 마감했으�, 이는 28� 900� 달러� 주식 브리지 대�(마감 � 전액 인출)� 1� 9� 1백만 달러� 이자 준비금 시설� 구성됩니�. 이들 대출은 2028� 7� 28� 만기이며 SOFR + 3.50% (기준금리 + 2.50%)� 가격이 책정되었습니�. 브리지 대� 수익금은 2025� 5� 이전 금융� 상환하고 CP2� 필요� 자본 투입� 지원하� � 사용됩니�.

모든 금융 시설은 프로젝트 � 지� 회사 자산� 대� 1순위 담보권으� 담보되며, 벌금 없이 선지급이 가능하�, 추가 부�, 담보�, 자산 매각 � 배당� 제한하는 약정� 포함되어 있습니다. Venture Global LNG, Inc.� Plaquemines 시운� 화물 판매� 자금� 조달하는 조건부 자본 지� 계약� 제공했습니다.

Le 28 juillet 2025, la filiale de Venture Global, CP2 LNG, LLC, a obtenu un financement de projet avec privilège de premier rang de 12,1 milliards de dollars : un prêt à terme de construction de 11,25 milliards de dollars et une facilité révolving/LC de 850 millions de dollars. Les fonds peuvent être tirés jusqu'à l'achèvement du projet ou jusqu'au 23 janvier 2030, portent un intérêt de SOFR + 2,25-2,75 % (taux de base + 1,25-1,75 %) et arrivent à échéance le 28 juillet 2032. Les produits financeront les coûts de la phase 1 du terminal d'exportation CP2 LNG et du pipeline CP Express dans la paroisse de Cameron, en Louisiane.

La filiale CP2 LNG Holdings, LLC a levé 3,0 milliards de dollars de dette liée aux capitaux propres, comprenant un pont d'équité de 2,809 milliards de dollars � entièrement tiré à la clôture � et une facilité de réserve d'intérêts de 191 millions de dollars. Ces lignes arrivent à échéance le 28 juillet 2028 et sont tarifées à SOFR + 3,50 % (taux de base + 2,50 %). Les produits du pont rembourseront les facilités antérieures de mai 2025 et financeront les apports en capitaux requis dans CP2.

Toutes les facilités sont garanties par des privilèges de premier rang sur les actifs du projet et de la société holding, permettent un remboursement anticipé sans pénalité et incluent des engagements limitant l'endettement supplémentaire, les privilèges, les ventes d'actifs et les dividendes. Venture Global LNG, Inc. a fourni un accord de soutien en capital conditionnel financé par les ventes de cargaisons de mise en service de Plaquemines.

Am 28. Juli 2025 sicherte die Tochtergesellschaft von Venture Global, CP2 LNG, LLC, eine Projektfinanzierung mit vorrangigem Pfandrecht in Höhe von 12,1 Milliarden US-Dollar: ein 11,25 Milliarden US-Dollar Baukredit und eine 850 Millionen US-Dollar revolvierende/LC-Fazilität. Die Mittel können bis zur Fertigstellung des Projekts oder bis zum 23. Januar 2030 abgerufen werden, tragen Zinsen von SOFR + 2,25-2,75 % (Basissatz + 1,25-1,75 %) und laufen am 28. Juli 2032 aus. Die Erlöse decken die Kosten der Phase 1 des CP2 LNG-Exportterminals und der CP Express-Pipeline in Cameron Parish, Louisiana.

Die Tochtergesellschaft CP2 LNG Holdings, LLC schloss eine eigenkapitalverknüpfte Schuld von 3,0 Milliarden US-Dollar ab, bestehend aus einer 2,809 Milliarden US-Dollar Eigenkapitalbrücke � bei Abschluss vollständig in Anspruch genommen � und einer 191 Millionen US-Dollar Zinsreservefazilität. Diese Linien laufen am 28. Juli 2028 aus und sind mit SOFR + 3,50 % (Basissatz + 2,50 %) verzinst. Die Erlöse der Brücke dienen der Rückzahlung früherer Einrichtungen vom Mai 2025 und der Finanzierung erforderlicher Eigenkapitaleinlagen in CP2.

Alle Fazilitäten sind durch vorrangige Pfandrechte an Projekt- und Holdingvermögen besichert, erlauben vorzeitige Rückzahlungen ohne Strafgebühren und enthalten Vereinbarungen, die zusätzliche Schulden, Pfandrechte, Vermögensverkäufe und Dividenden einschränken. Venture Global LNG, Inc. stellte eine bedingte Eigenkapitalunterstützungsvereinbarung bereit, finanziert durch Verkäufe von Inbetriebnahmeladungen aus Plaquemines.

Positive
  • $15.1 billion of financing secured, fully funding CP2 Phase 1 build-out.
  • Competitive pricing at SOFR + 2.25-2.75 % signals strong lender confidence.
  • No prepayment penalties allow refinancing flexibility if rates fall.
  • First-lien, asset-backed structure reduces execution and counterparty risk.
Negative
  • Significant leverage increase heightens interest-rate and repayment risk prior to project cash flow.
  • Higher SOFR-linked margins (up to 3.50 %) escalate cost if benchmark rates remain elevated.
  • Restrictive covenants limit dividends and incremental borrowing flexibility.

Insights

TL;DR � $15.1 bn low-margin financing fully funds CP2 Phase 1, elevates leverage but de-risks execution.

The credit package gives Venture Global line-of-sight to complete CP2 Phase 1 without equity market taps. Pricing of SOFR +2.25-2.75 % compares favorably with recent LNG peer deals, suggesting strong lender appetite. Maturities (2028/2032) align with expected cash-flow ramp, and absence of prepayment penalties offers flexibility in a declining-rate scenario. Covenants are typical and first-lien structure mitigates lender risk. However, $15.1 bn of new debt will swell consolidated leverage before cash generation, exposing shareholders to interest-rate volatility and construction risk. Overall impact skewed positive because financing certainty materially advances a multibillion-dollar growth project.

TL;DR � Facility boosts liquidity but introduces sizeable fixed-rate exposure and tight covenants.

Debt load adds >$100 m annual carry at spot SOFR, and margins step up if delays occur. The contingent equity backstop reduces refinancing risk but links repayment capacity to Plaquemines commissioning sales—another project still ramping. Covenant package limits upstream cash leakage, prioritising lenders over equity holders. Given LNG project volatility, leverage uptick moderates credit profile, yet availability of long-tenor capital is a clear positive for overall funding plan.

Il 28 luglio 2025, la controllata di Venture Global, CP2 LNG, LLC, ha ottenuto un finanziamento di progetto con primo privilegio di 12,1 miliardi di dollari: un prestito a termine per la costruzione di 11,25 miliardi di dollari e una linea di credito/rivolvente da 850 milioni di dollari. I fondi possono essere prelevati fino al completamento del progetto o fino al 23 gennaio 2030, con un tasso d'interesse pari a SOFR + 2,25-2,75 % (Tasso Base + 1,25-1,75 %) e scadenza il 28 luglio 2032. I proventi copriranno i costi della Fase 1 del terminale di esportazione CP2 LNG e del gasdotto CP Express nella parrocchia di Cameron, Louisiana.

La affiliata CP2 LNG Holdings, LLC ha chiuso un debito collegato all'equity di 3,0 miliardi di dollari, comprendente un bridge equity da 2,809 miliardi di dollari—completamente utilizzato alla chiusura—e una linea di riserva per interessi di 191 milioni di dollari. Queste linee scadono il 28 luglio 2028 e sono quotate a SOFR + 3,50 % (Tasso Base + 2,50 %). I proventi del bridge serviranno a rimborsare i finanziamenti precedenti di maggio 2025 e a finanziare le iniezioni di capitale necessarie in CP2.

Tutte le linee di credito sono garantite da privilegi di primo grado sugli asset del progetto e della holding, consentono il rimborso anticipato senza penali e includono covenant che limitano ulteriori debiti, privilegi, vendite di asset e dividendi. Venture Global LNG, Inc. ha fornito un accordo di supporto azionario contingente finanziato dalle vendite di carichi di commissioning di Plaquemines.

El 28 de julio de 2025, la subsidiaria de Venture Global, CP2 LNG, LLC, aseguró un financiamiento de proyecto con primer gravamen por 12.100 millones de dólares: un préstamo a plazo para construcción de 11.250 millones de dólares y una línea revolvente/LC por 850 millones de dólares. Los fondos pueden ser retirados hasta la finalización del proyecto o hasta el 23 de enero de 2030, con un interés de SOFR + 2,25-2,75 % (Tasa Base + 1,25-1,75 %) y vencen el 28 de julio de 2032. Los ingresos cubrirán los costos de la Fase 1 de la terminal de exportación CP2 LNG y el gasoducto CP Express en la parroquia de Cameron, Luisiana.

La afiliada CP2 LNG Holdings, LLC cerró una deuda vinculada a capital por 3.000 millones de dólares, que comprende un puente de capital de 2.809 millones de dólares—totalmente utilizado al cierre—y una línea de reserva para intereses de 191 millones de dólares. Estas líneas vencen el 28 de julio de 2028 y tienen un precio de SOFR + 3,50 % (Tasa Base + 2,50 %). Los ingresos del puente se utilizarán para reembolsar las facilidades anteriores de mayo de 2025 y financiar las inyecciones de capital requeridas en CP2.

Todas las facilidades están garantizadas por gravámenes de primer grado sobre los activos del proyecto y de la empresa matriz, permiten el prepago sin penalización e incluyen convenios que restringen deuda adicional, gravámenes, ventas de activos y dividendos. Venture Global LNG, Inc. proporcionó un acuerdo de apoyo de capital contingente financiado por las ventas de cargas de puesta en marcha de Plaquemines.

2025� 7� 28�, Venture Global� 자회� CP2 LNG, LLC� 121� 달러 규모� 1순위 프로젝트 금융� 확보했습니다: 112� 5천만 달러� 건설 기간 대출과 8� 5천만 달러� 리볼�/신용� 시설입니�. 자금은 프로젝트 완료 또는 2030� 1� 23일까지 인출 가능하�, 이자� SOFR + 2.25-2.75% (기준금리 + 1.25-1.75%)이며 만기� 2032� 7� 28일입니다. 수익금은 루이지애나 카메� 교구� 위치� CP2 LNG 수출 터미널과 CP Express 파이프라� 1단계 비용� 충당� 예정입니�.

계열� CP2 LNG Holdings, LLC� 30� 달러 규모� 주식 연계 부채를 마감했으�, 이는 28� 900� 달러� 주식 브리지 대�(마감 � 전액 인출)� 1� 9� 1백만 달러� 이자 준비금 시설� 구성됩니�. 이들 대출은 2028� 7� 28� 만기이며 SOFR + 3.50% (기준금리 + 2.50%)� 가격이 책정되었습니�. 브리지 대� 수익금은 2025� 5� 이전 금융� 상환하고 CP2� 필요� 자본 투입� 지원하� � 사용됩니�.

모든 금융 시설은 프로젝트 � 지� 회사 자산� 대� 1순위 담보권으� 담보되며, 벌금 없이 선지급이 가능하�, 추가 부�, 담보�, 자산 매각 � 배당� 제한하는 약정� 포함되어 있습니다. Venture Global LNG, Inc.� Plaquemines 시운� 화물 판매� 자금� 조달하는 조건부 자본 지� 계약� 제공했습니다.

Le 28 juillet 2025, la filiale de Venture Global, CP2 LNG, LLC, a obtenu un financement de projet avec privilège de premier rang de 12,1 milliards de dollars : un prêt à terme de construction de 11,25 milliards de dollars et une facilité révolving/LC de 850 millions de dollars. Les fonds peuvent être tirés jusqu'à l'achèvement du projet ou jusqu'au 23 janvier 2030, portent un intérêt de SOFR + 2,25-2,75 % (taux de base + 1,25-1,75 %) et arrivent à échéance le 28 juillet 2032. Les produits financeront les coûts de la phase 1 du terminal d'exportation CP2 LNG et du pipeline CP Express dans la paroisse de Cameron, en Louisiane.

La filiale CP2 LNG Holdings, LLC a levé 3,0 milliards de dollars de dette liée aux capitaux propres, comprenant un pont d'équité de 2,809 milliards de dollars � entièrement tiré à la clôture � et une facilité de réserve d'intérêts de 191 millions de dollars. Ces lignes arrivent à échéance le 28 juillet 2028 et sont tarifées à SOFR + 3,50 % (taux de base + 2,50 %). Les produits du pont rembourseront les facilités antérieures de mai 2025 et financeront les apports en capitaux requis dans CP2.

Toutes les facilités sont garanties par des privilèges de premier rang sur les actifs du projet et de la société holding, permettent un remboursement anticipé sans pénalité et incluent des engagements limitant l'endettement supplémentaire, les privilèges, les ventes d'actifs et les dividendes. Venture Global LNG, Inc. a fourni un accord de soutien en capital conditionnel financé par les ventes de cargaisons de mise en service de Plaquemines.

Am 28. Juli 2025 sicherte die Tochtergesellschaft von Venture Global, CP2 LNG, LLC, eine Projektfinanzierung mit vorrangigem Pfandrecht in Höhe von 12,1 Milliarden US-Dollar: ein 11,25 Milliarden US-Dollar Baukredit und eine 850 Millionen US-Dollar revolvierende/LC-Fazilität. Die Mittel können bis zur Fertigstellung des Projekts oder bis zum 23. Januar 2030 abgerufen werden, tragen Zinsen von SOFR + 2,25-2,75 % (Basissatz + 1,25-1,75 %) und laufen am 28. Juli 2032 aus. Die Erlöse decken die Kosten der Phase 1 des CP2 LNG-Exportterminals und der CP Express-Pipeline in Cameron Parish, Louisiana.

Die Tochtergesellschaft CP2 LNG Holdings, LLC schloss eine eigenkapitalverknüpfte Schuld von 3,0 Milliarden US-Dollar ab, bestehend aus einer 2,809 Milliarden US-Dollar Eigenkapitalbrücke � bei Abschluss vollständig in Anspruch genommen � und einer 191 Millionen US-Dollar Zinsreservefazilität. Diese Linien laufen am 28. Juli 2028 aus und sind mit SOFR + 3,50 % (Basissatz + 2,50 %) verzinst. Die Erlöse der Brücke dienen der Rückzahlung früherer Einrichtungen vom Mai 2025 und der Finanzierung erforderlicher Eigenkapitaleinlagen in CP2.

Alle Fazilitäten sind durch vorrangige Pfandrechte an Projekt- und Holdingvermögen besichert, erlauben vorzeitige Rückzahlungen ohne Strafgebühren und enthalten Vereinbarungen, die zusätzliche Schulden, Pfandrechte, Vermögensverkäufe und Dividenden einschränken. Venture Global LNG, Inc. stellte eine bedingte Eigenkapitalunterstützungsvereinbarung bereit, finanziert durch Verkäufe von Inbetriebnahmeladungen aus Plaquemines.

0002007855false00020078552025-07-282025-07-28


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 28, 2025
 
Logo.gif
Venture Global, Inc.
(Exact name of registrant as specified in its charter)
 
 
Delaware001-4248693-3539083
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
1001 19th Street North, Suite 1500
22209
Arlington, VA
(Zip Code)
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (202) 759-6740
Not Applicable
(Former name or former address, if changed since last report.)

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading
Symbol(s)
 Name of each exchange
on which registered
Class A common stock, $0.01 par value per share VG New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 





Item 1.01. Entry into a Material Definitive Agreement.

On July 28, 2025, Venture Global CP2 LNG, LLC (“CP2”), an indirect, wholly-owned subsidiary of Venture Global, Inc. (the “Company”), entered into new secured credit facilities in an aggregate amount of $12.1 billion, consisting of a $11.25 billion senior secured first lien construction term loan facility (the “Construction/Term Facility”) and a $850.0 million senior secured first lien working capital revolving loan and letter of credit facility (the “Working Capital Facility”, and together with the Construction/Term Facility, the “Project Facilities”), to fund a portion of project costs for Phase 1 of the CP2 natural gas liquefaction and export facility to be located alongside the Calcasieu Ship Channel in Cameron Parish, Louisiana and the related CP Express pipeline (collectively, the “CP2 Project”). The proceeds from the Construction/Term Facility can be drawn up until the earliest of (i) Phase 1 date certain (January 23, 2030) or (ii) the Phase 1 project completion date, subject to termination of commitments, and the proceeds therefrom will be deposited into the corresponding account to fund a portion of the costs of developing and constructing Phase 1 of the CP2 Project. Proceeds from the Working Capital Facility may be applied to satisfy obligations under existing project documents, fund reserve requirements, pay transaction fees and expenses in connection with the Project Facilities, working capital purposes and other general corporate purposes up to a certain amount. Borrowings under the Project Facilities bear interest at either the secured overnight financing rate (“SOFR”) or base rate, plus an applicable margin. The applicable margin rate for SOFR-based loans ranges from 2.25% to 2.75%. The applicable margin rate for base rate loans ranges from 1.25% to 1.75%. Interest on term SOFR loans is due and payable at the end of each interest period (but at least every three months) and interest on base rate loans is due and payable at the end of each calendar quarter. The obligations of CP2 under the Project Facilities are guaranteed by Venture Global CP Express, LLC and CP2 Procurement, LLC (jointly, the “Guarantors”), each an affiliate of CP2. The Project Facilities contain certain customary affirmative and negative covenants that among other things, limit the Company's and the Guarantors' ability to incur additional indebtedness, create liens, dispose of assets, or pay dividends, distributions or other restricted payments.

On July 28, 2025, CP2 LNG Holdings, LLC (“Holdings”), an indirect, wholly-owned subsidiary of the Company, entered into new secured credit facilities in an aggregate amount of $3.0 billion, consisting of a $2.809 billion secured equity bridge credit facility (the “Equity Bridge Facility”) and a $191 million three-year secured interest reserve credit facility (the “Interest Reserve Facility”, and together with the Equity Bridge Facility, the “EBL Facilities”, and together with the Project Facilities, the “Facilities”), to fund equity contributions to CP2, interest, fees and other expenses in relation to the CP2 Project. The Equity Bridge Facility was fully drawn on the closing date of the Equity Bridge Facility and proceeds therefrom will be used to indirectly make equity contributions to CP2 to be deposited in the corresponding construction account. Such proceeds will be utilized to prepay, in full, the existing bridge credit facilities entered into by CP2 on May 1, 2025, and to fund a portion of the costs of developing and constructing Phase 1 of the CP2 Project. Proceeds from the Interest Reserve Facility will be deposited in the Holdings interest reserve account and may be applied only to pay interest, fees and other expenses in connection with the EBL Facilities. Borrowings under the EBL Facilities bear interest at either SOFR or base rate, plus an applicable margin. The applicable margin rate for SOFR-based loans is 3.50%. The applicable margin rate for base rate loans is 2.50%. Interest on term SOFR loans is due and payable at the end of each interest period (but at least every three months) and interest on base rate loans is due and payable at the end of each calendar quarter. The EBL Facilities contain certain customary affirmative and negative covenants that among other things, limit the Holdings' ability to incur additional indebtedness, create liens, dispose of assets, or pay dividends, distributions or other restricted payments.

The loans under the Project Facilities must be repaid in full no later than July 28, 2032. The loans made under the EBL Facilities must be repaid in full no later than July 28, 2028. The outstanding principal of the Facilities may be repaid, in whole or in part, at any time without premium or penalty (subject to breakage fees).

The Project Facilities will be secured by a first-priority lien on substantially all of the assets of, as well as the equity interests in, CP2 and each of the Guarantors. The EBL Facilities will be secured by a lien on substantially all of the assets of, as well as the equity interests in, Holdings.

A copy of the credit agreements governing the Facilities will be filed as an exhibit to the Company’s quarterly report on Form 10-Q for the quarter ended September 30, 2025.

Further, in connection with the EBL Facilities, Venture Global LNG, Inc. (“VGLNG”) has entered into a contingent equity contribution agreement, which requires VGLNG to make equity contributions to Holdings based on certain percentages of the cash proceeds received from the sale of LNG commissioning cargos from the Plaquemines project, subject to certain limitations, to be deposited in a reserve account and which Holdings is required to use to prepay any outstanding principal amounts under the EBL Facilities.





Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 is incorporated herein by reference.

Item 8.01. Other Events.

On July 28, 2025, the Company issued a press release announcing that CP2 had closed the Facilities. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K.


Item 9.01. Financial Statements and Exhibits.

(d) Exhibits
Exhibit NumberExhibit Title or Description
99.1
Press release dated July 28, 2025.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Venture Global, Inc.
Dated: July 28, 2025
By: /s/ Jonathan Thayer
Jonathan Thayer
Chief Financial Officer



FAQ

How much debt did Venture Global (VG) raise in the July 2025 8-K?

$15.1 billion across project and equity-bridge credit facilities.

What are the interest rates on the new CP2 project loans?

Construction/Revolver: SOFR + 2.25-2.75 % or Base Rate + 1.25-1.75 %.

When do the new facilities mature?

Project loans mature 28 Jul 2032; equity-bridge and interest-reserve lines mature 28 Jul 2028.

Can Venture Global repay the loans early?

Yes; principal may be prepaid anytime without premium (breakage costs may apply).

What collateral secures the facilities?

First-priority liens on substantially all assets and equity of CP2 and its holding entities.

Is there equity support for the bridge loans?

Yes; VGLNG must contribute cash from Plaquemines LNG commissioning cargo sales to a reserve account.
Venture Global, Inc.

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35.23B
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Oil & Gas Midstream
Natural Gas Distribution
United States
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