Annual report pursuant to Section 13 and 15(d)

Restricted Cash

v3.6.0.2
Restricted Cash
 12 Months Ended
Dec. 31, 2016
Cash and Cash Equivalents [Abstract]  
Restricted Cash
RESTRICTED CASH
 
Restricted cash consists of funds that are contractually restricted as to usage or withdrawal and have been presented separately from cash and cash equivalents on our Consolidated Balance Sheets. As of December 31, 2016 and 2015, restricted cash consisted of the following (in thousands):
 
 
December 31,
 
 
2016
 
2015
Current restricted cash
 
 
 
 
SPLNG debt service and interest payment
 
$
—

 
$
77,415

SPL Project
 
357,953

 
189,260

CTPL construction and interest payment
 
—

 
7,882

CQP and cash held by guarantor subsidiaries
 
246,991

 
—

CCL Project
 
197,201

 
46,770

Cash held by our subsidiaries restricted to Cheniere
 
219

 
147,138

Other
 
57,534

 
34,932

Total current restricted cash
 
$
859,898

 
$
503,397

 
 
 
 
 
Non-current restricted cash
 
 
 
 
SPLNG debt service
 
$
—

 
$
13,650

CCL Project
 
73,339

 
—

Other
 
17,480

 
18,072

Total non-current restricted cash
 
$
90,819

 
$
31,722



In February 2016, Cheniere Partners entered into the $2.8 billion credit facilities (the “2016 CQP Credit Facilities”). Cheniere Partners, as well as Cheniere Investments, SPLNG and CTPL as Cheniere Partners’ guarantor subsidiaries, are subject to limitations on the use of cash under the terms of the 2016 CQP Credit Facilities and the related depositary agreement governing the extension of credit to Cheniere Partners. Specifically, Cheniere Partners, Cheniere Investments, SPLNG and CTPL may only withdraw funds from collateral accounts held at a designated depositary bank on a monthly basis and for specific purposes, including for the payment of operating expenses. In addition, distributions and capital expenditures may only be made quarterly and are subject to certain restrictions.