Venture Global, Inc. 8-K

What Happened
Venture Global, Inc. announced on April 10, 2026 that its indirect subsidiary, Calcasieu Pass Funding, LLC (the Borrower), closed a senior secured Term Loan B facility with an initial principal of $1,750,000,000. The facility was drawn in full on the closing date and was disclosed in an 8-K filing; a related press release was included as an exhibit.

Key Details

• Loan amount: $1,750,000,000 Term Loan B, fully drawn on April 10, 2026.
• Maturity: April 10, 2033.
• Use of proceeds: (a) redeem in full preferred equity issued to Stonepeak Bayou Holdings II LP, (b) pay related costs, fees and expenses, and (c) working capital and general corporate purposes.
• Security: first-priority lien on substantially all Borrower assets and on the Borrower’s equity interests.
• Interest: floating — Term SOFR plus an agreed margin, or Base Rate plus an agreed margin.
• Prepayment: outstanding principal may be repaid in whole or part without premium or penalty (subject to breakage fees) six months after closing.
• Credit agreement includes customary representations, affirmative and negative covenants (limits on indebtedness, liens, investments, dispositions, dividends, etc.).

Why It Matters
This financing creates a material debt obligation for the Calcasieu Pass project and provides immediate liquidity to retire preferred equity held by Stonepeak, cover transaction costs, and support operations. For investors, key implications include increased secured leverage on the project-level company, a long-term maturity (2033), and customary covenant protections that could affect future financing and distributions. The terms and the full credit agreement will be filed later with Venture Global’s Form 10-Q for the quarter ended June 30, 2026.