Quarterly report pursuant to Section 13 or 15(d)

Debt - Schedule of Issuances (Details)

v3.20.2
Debt - Schedule of Issuances (Details) - USD ($)
$ / shares in Units, $ in Millions
1 Months Ended 3 Months Ended 9 Months Ended
Jul. 31, 2020
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Debt Instrument [Line Items]          
Aggregate principal amount   $ 4,769   $ 4,769  
Debt modification and extinguishment costs   (171) $ (27) (215) $ (27)
Repayments of Debt       $ 6,324 $ 2,237
Cheniere Term Loan Facility [Member]          
Debt Instrument [Line Items]          
Maturity date [1]       Jun. 18, 2023  
Debt modification and extinguishment costs       $ 14  
Repayments of Debt       2,100  
Line Of Credit Facility, Original Borrowing Capacity [1]   2,620   2,620  
Line of Credit Facility, Maximum Borrowing Capacity   $ 2,695   2,695  
Cheniere Term Loan Facility [Member] | Cash [Member]          
Debt Instrument [Line Items]          
Repayments of Debt       100  
2025 CCH HoldCo II Convertible Notes and 2021 Cheniere Convertible Notes [Member]          
Debt Instrument [Line Items]          
Debt modification and extinguishment costs       149  
Debt Conversion, Reduction in Equity       $ 10  
2025 Convertible Senior Notes [Member]          
Debt Instrument [Line Items]          
Debt Instrument, Convertible, Conversion Price   $ 1,080   $ 1,080  
2021 Cheniere Convertible Unsecured Notes [Member]          
Debt Instrument [Line Items]          
Maturity date       May 28, 2021  
Debt Instrument, Interest Rate, Stated Percentage   4.875%   4.875%  
Aggregate principal amount   $ 1,000   $ 1,000  
Debt Instrument, Convertible, Conversion Price   $ 93.64   $ 93.64  
Repayments of Convertible Debt $ 844     $ 844  
SPL [Member] | 2030 SPL Senior Notes [Member]          
Debt Instrument [Line Items]          
Maturity date [2]       May 15, 2030  
Debt Instrument, Interest Rate, Stated Percentage [2]   4.50%   4.50%  
Aggregate principal amount [2]   $ 2,000   $ 2,000  
Debt modification and extinguishment costs       $ 43  
CCH [Member] | 3.52% CCH Senior Secured Notes [Member]          
Debt Instrument [Line Items]          
Maturity date [3]       Dec. 31, 2039  
Debt Instrument, Interest Rate, Stated Percentage [3]   3.52%   3.52%  
Aggregate principal amount [3]   $ 769   $ 769  
Debt modification and extinguishment costs   $ 9   $ 9  
Cheniere [Member] | 2028 Cheniere Senior Secured Notes [Member]          
Debt Instrument [Line Items]          
Maturity date [4]       Oct. 15, 2028  
Debt Instrument, Interest Rate, Stated Percentage [4]   4.625%   4.625%  
Aggregate principal amount [4]   $ 2,000   $ 2,000  
[1] Borrowings under the Cheniere Term Loan Facility are subject to customary conditions precedent. The remaining commitments under the Cheniere Term Loan Facility are expected to be used to repay and/or repurchase a portion of the remaining principal amount of the 2021 Cheniere Convertible Unsecured Notes and for the payment of related fees and expenses. We pay a commitment fee equal to 30% of the margin for LIBOR loans multiplied by the average daily amount of undrawn commitments. If the Cheniere Term Loan Facility is still outstanding on the first anniversary of the Closing Date, as defined by the credit agreement, we will pay duration fees in an amount equal to 0.25% of the aggregate amount of commitments as of July 10, 2020, which was the date the loans were first borrowed under the Cheniere Term Loan Facility (the “Payment Date”). Furthermore, if the Cheniere Term Loan Facility is still outstanding on the second anniversary of the Closing Date, as defined by the credit agreement, we will pay 0.50% of the aggregate amount of commitments as of the Payment Date. Annual administrative fees must also be paid to the administrative agent for the Cheniere Term Loan Facility. Subject to customary exceptions, we are required to make mandatory prepayments with respect to the Cheniere Term Loan Facility using the net proceeds of certain events on a pro rata basis and on terms consistent with required prepayments under the Cheniere Revolving Credit Facility.
[2] Proceeds of the 2030 SPL Senior Notes, along with available cash, were used to redeem all of SPL’s outstanding 5.625% Senior Secured Notes due 2021 (the “2021 SPL Senior Notes”), resulting in the recognition of debt extinguishment costs of $43 million for the nine months ended September 30, 2020 relating to the payment of early redemption fees and write off of unamortized debt premium and issuance costs.
[3] Proceeds of the 3.52% CCH Senior Secured Notes were used to repay a portion of the outstanding borrowings under the CCH Credit Facility, pay costs associated with certain interest rate derivative instruments that were settled and pay certain fees, costs and expenses incurred in connection with these transactions. The repayment of the CCH Credit Facility resulted in the recognition of debt extinguishment costs of $9 million for the three and nine months ended September 30, 2020 relating to the write off of unamortized debt discounts and issuance costs.
[4] Proceeds of the 2028 Cheniere Senior Secured Notes, along with $100 million in available cash, were used to prepay approximately $2.1 billion of the outstanding indebtedness of the Cheniere Term Loan Facility, resulting in the recognition of debt extinguishment costs of $14 million for the nine months ended September 30, 2020. The borrowings under the Cheniere Term Loan Facility, which was entered in June 2020 with available commitments of $2.62 billion and subsequently increased to $2.695 billion in July 2020, were used to (1) redeem the remaining outstanding principal amount of the 2025 CCH HoldCo II Convertible Senior Notes with cash at a price of $1,080 per $1,000 principal amount, (2) repurchase $844 million in aggregate principal amount of outstanding 2021 Cheniere Convertible Unsecured Notes at individually negotiated prices from a small number of investors and (3) pay the related fees and expenses. The redemption of the 2025 CCH HoldCo II Convertible Senior Notes and the repurchase of the 2021 Cheniere Convertible Unsecured Notes resulted in the recognition of debt extinguishment costs of $149 million and a reduction in equity associated with reacquisition of the embedded conversion option of $10 million.