[6-K] ChipMOS TECHNOLOGIES INC Current Report (Foreign Issuer)
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 privilegio primario di 12,1 miliardi di dollari: un prestito a termine per la costruzione di 11,25 miliardi di dollari e una linea di credito/revolver da 850 milioni di dollari. I fondi possono essere prelevati fino al completamento del progetto o fino al 23 gennaio 2030, con un interesse basato su 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.
L'affiliata CP2 LNG Holdings, LLC ha chiuso un debito collegato all’equity di 3,0 miliardi di dollari, composto da un ponte azionario di 2,809 miliardi di dollari completamente utilizzato alla chiusura e una linea di riserva per interessi di 191 milioni di dollari. Questi finanziamenti scadono il 28 luglio 2028 e prevedono un tasso SOFR + 3,50% (Tasso Base + 2,50%). I proventi del ponte serviranno a rimborsare le linee di credito precedenti di maggio 2025 e a finanziare le iniezioni di capitale richieste in CP2.
Tutte le linee di credito sono garantite da privilegi primari su beni 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 delle prime spedizioni di commissioning a Plaquemines.
El 28 de julio de 2025, la subsidiaria de Venture Global, CP2 LNG, LLC, aseguró un financiamiento de proyecto con primer gravamen por 12,1 mil millones de dólares: un préstamo a plazo para construcción de 11,25 mil millones de dólares y una línea revolvente/facilidad de carta de crédito por 850 millones de dólares. Los fondos pueden ser desembolsados hasta la finalización del proyecto o hasta el 23 de enero de 2030, con intereses a SOFR + 2,25-2,75 % (Tasa Base + 1,25-1,75 %) y vencimiento 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, Louisiana.
La afiliada CP2 LNG Holdings, LLC cerró una deuda vinculada a capital por 3,0 mil millones de dólares, compuesta por un puente de capital de 2,809 mil millones de dólares totalmente utilizado al cierre y una facilidad de reserva de intereses de 191 millones de dólares. Estas líneas vencen el 28 de julio de 2028 y tienen un costo de SOFR + 3,50 % (Tasa Base + 2,50 %). Los ingresos del puente se utilizan para pagar las facilidades anteriores de mayo de 2025 y financiar las inyecciones de capital requeridas en CP2.
Todas las facilidades están garantizadas con gravámenes de primer nivel sobre los activos del proyecto y de la sociedad holding, permiten el prepago sin penalizaciones 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 en Plaquemines.
2025년 7월 28일, Venture Global의 자회사인 CP2 LNG, LLC는 121억 달러 규모의 1순위 프로젝트 금융을 확보했습니다: 112억 5천만 달러의 건설 기간 대출과 8억 5천만 달러의 리볼빙/신용장 시설입니다. 자금은 프로젝트 완료 또는 2030년 1월 23일까지 인출 가능하며, 이자율은 SOFR + 2.25-2.75% (기준금리 + 1.25-1.75%)이고 만기는 2032년 7월 28일입니다. 자금은 루이지애나 주 카메론 군에 위치한 CP2 LNG 수출 터미널과 CP Express 파이프라인 1단계 비용을 충당합니다.
계열사인 CP2 LNG Holdings, LLC는 30억 달러 규모의 주식 연계 부채를 마감했으며, 여기에는 28억 900만 달러의 주식 브리지 대출(마감 시 전액 인출)과 1억 9천 1백만 달러의 이자 준비금 시설이 포함됩니다. 이 대출들은 2028년 7월 28일 만기이며, 금리는 SOFR + 3.50% (기준금리 + 2.50%)입니다. 브리지 대출 자금은 2025년 5월 이전 시설을 상환하고 CP2에 필요한 자본 투입을 지원합니다.
모든 금융 시설은 프로젝트 및 지주회사 자산에 대한 1순위 담보권으로 보장되며, 벌금 없이 조기 상환이 가능하고, 추가 부채, 담보권, 자산 매각 및 배당을 제한하는 약정이 포함되어 있습니다. Venture Global LNG, Inc.는 Plaquemines 시운전 화물 판매로 자금을 조달하는 우발적 자본 지원 계약을 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 pour la construction de 11,25 milliards de dollars et une facilité de crédit renouvelable/lettre de crédit 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 recettes couvriront 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 finalisé une dette liée aux capitaux propres de 3,0 milliards de dollars, 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 au taux SOFR + 3,50 % (Taux de base + 2,50 %). Les produits du pont remboursent les facilités antérieures de mai 2025 et financent les apports en capital nécessaires 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 les dettes supplémentaires, 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 des cargaisons de mise en service à Plaquemines.
Am 28. Juli 2025 sicherte sich die Tochtergesellschaft von Venture Global, CP2 LNG, LLC, eine Projektfinanzierung mit vorrangiger Grundschuld in Höhe von 12,1 Milliarden US-Dollar: ein 11,25 Milliarden US-Dollar Bau-Darlehen und eine 850 Millionen US-Dollar revolvierende Kreditfazilität/LC. Die Mittel können bis zur Fertigstellung des Projekts oder zum 23. Januar 2030 abgerufen werden, tragen Zinsen von SOFR + 2,25-2,75 % (Basiszinssatz + 1,25-1,75 %) und laufen am 28. Juli 2032 aus. Die Erlöse decken die Kosten für Phase 1 des CP2 LNG-Exportterminals und der CP Express-Pipeline in Cameron Parish, Louisiana.
Die Tochtergesellschaft CP2 LNG Holdings, LLC schloss eine eigenkapitalverknüpfte Fremdfinanzierung in Höhe von 3,0 Milliarden US-Dollar ab, bestehend aus einer 2,809 Milliarden US-Dollar Eigenkapitalbrücke – bei Abschluss vollständig abgerufen – und einer 191 Millionen US-Dollar Zinsreservefazilität. Diese Kredite laufen am 28. Juli 2028 aus und sind mit SOFR + 3,50 % (Basiszinssatz + 2,50 %) verzinst. Die Brückenerlöse dienen der Rückzahlung früherer Finanzierungen aus Mai 2025 und der Finanzierung der erforderlichen Eigenkapitaleinlagen in CP2.
Alle Finanzierungen sind durch vorrangige Sicherheiten auf Projekt- und Holding-Gesellschaftsvermögen besichert, erlauben vorzeitige Rückzahlungen ohne Strafgebühren und enthalten Auflagen, die zusätzliche Schulden, Sicherheiten, Vermögensverkäufe und Dividenden einschränken. Venture Global LNG, Inc. stellte eine bedingte Eigenkapitalunterstützungsvereinbarung bereit, die durch die Verkäufe von Inbetriebnahme-Ladungen in Plaquemines finanziert wird.
- $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.
- 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 privilegio primario di 12,1 miliardi di dollari: un prestito a termine per la costruzione di 11,25 miliardi di dollari e una linea di credito/revolver da 850 milioni di dollari. I fondi possono essere prelevati fino al completamento del progetto o fino al 23 gennaio 2030, con un interesse basato su 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.
L'affiliata CP2 LNG Holdings, LLC ha chiuso un debito collegato all’equity di 3,0 miliardi di dollari, composto da un ponte azionario di 2,809 miliardi di dollari completamente utilizzato alla chiusura e una linea di riserva per interessi di 191 milioni di dollari. Questi finanziamenti scadono il 28 luglio 2028 e prevedono un tasso SOFR + 3,50% (Tasso Base + 2,50%). I proventi del ponte serviranno a rimborsare le linee di credito precedenti di maggio 2025 e a finanziare le iniezioni di capitale richieste in CP2.
Tutte le linee di credito sono garantite da privilegi primari su beni 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 delle prime spedizioni di commissioning a Plaquemines.
El 28 de julio de 2025, la subsidiaria de Venture Global, CP2 LNG, LLC, aseguró un financiamiento de proyecto con primer gravamen por 12,1 mil millones de dólares: un préstamo a plazo para construcción de 11,25 mil millones de dólares y una línea revolvente/facilidad de carta de crédito por 850 millones de dólares. Los fondos pueden ser desembolsados hasta la finalización del proyecto o hasta el 23 de enero de 2030, con intereses a SOFR + 2,25-2,75 % (Tasa Base + 1,25-1,75 %) y vencimiento 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, Louisiana.
La afiliada CP2 LNG Holdings, LLC cerró una deuda vinculada a capital por 3,0 mil millones de dólares, compuesta por un puente de capital de 2,809 mil millones de dólares totalmente utilizado al cierre y una facilidad de reserva de intereses de 191 millones de dólares. Estas líneas vencen el 28 de julio de 2028 y tienen un costo de SOFR + 3,50 % (Tasa Base + 2,50 %). Los ingresos del puente se utilizan para pagar las facilidades anteriores de mayo de 2025 y financiar las inyecciones de capital requeridas en CP2.
Todas las facilidades están garantizadas con gravámenes de primer nivel sobre los activos del proyecto y de la sociedad holding, permiten el prepago sin penalizaciones 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 en Plaquemines.
2025년 7월 28일, Venture Global의 자회사인 CP2 LNG, LLC는 121억 달러 규모의 1순위 프로젝트 금융을 확보했습니다: 112억 5천만 달러의 건설 기간 대출과 8억 5천만 달러의 리볼빙/신용장 시설입니다. 자금은 프로젝트 완료 또는 2030년 1월 23일까지 인출 가능하며, 이자율은 SOFR + 2.25-2.75% (기준금리 + 1.25-1.75%)이고 만기는 2032년 7월 28일입니다. 자금은 루이지애나 주 카메론 군에 위치한 CP2 LNG 수출 터미널과 CP Express 파이프라인 1단계 비용을 충당합니다.
계열사인 CP2 LNG Holdings, LLC는 30억 달러 규모의 주식 연계 부채를 마감했으며, 여기에는 28억 900만 달러의 주식 브리지 대출(마감 시 전액 인출)과 1억 9천 1백만 달러의 이자 준비금 시설이 포함됩니다. 이 대출들은 2028년 7월 28일 만기이며, 금리는 SOFR + 3.50% (기준금리 + 2.50%)입니다. 브리지 대출 자금은 2025년 5월 이전 시설을 상환하고 CP2에 필요한 자본 투입을 지원합니다.
모든 금융 시설은 프로젝트 및 지주회사 자산에 대한 1순위 담보권으로 보장되며, 벌금 없이 조기 상환이 가능하고, 추가 부채, 담보권, 자산 매각 및 배당을 제한하는 약정이 포함되어 있습니다. Venture Global LNG, Inc.는 Plaquemines 시운전 화물 판매로 자금을 조달하는 우발적 자본 지원 계약을 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 pour la construction de 11,25 milliards de dollars et une facilité de crédit renouvelable/lettre de crédit 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 recettes couvriront 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 finalisé une dette liée aux capitaux propres de 3,0 milliards de dollars, 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 au taux SOFR + 3,50 % (Taux de base + 2,50 %). Les produits du pont remboursent les facilités antérieures de mai 2025 et financent les apports en capital nécessaires 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 les dettes supplémentaires, 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 des cargaisons de mise en service à Plaquemines.
Am 28. Juli 2025 sicherte sich die Tochtergesellschaft von Venture Global, CP2 LNG, LLC, eine Projektfinanzierung mit vorrangiger Grundschuld in Höhe von 12,1 Milliarden US-Dollar: ein 11,25 Milliarden US-Dollar Bau-Darlehen und eine 850 Millionen US-Dollar revolvierende Kreditfazilität/LC. Die Mittel können bis zur Fertigstellung des Projekts oder zum 23. Januar 2030 abgerufen werden, tragen Zinsen von SOFR + 2,25-2,75 % (Basiszinssatz + 1,25-1,75 %) und laufen am 28. Juli 2032 aus. Die Erlöse decken die Kosten für Phase 1 des CP2 LNG-Exportterminals und der CP Express-Pipeline in Cameron Parish, Louisiana.
Die Tochtergesellschaft CP2 LNG Holdings, LLC schloss eine eigenkapitalverknüpfte Fremdfinanzierung in Höhe von 3,0 Milliarden US-Dollar ab, bestehend aus einer 2,809 Milliarden US-Dollar Eigenkapitalbrücke – bei Abschluss vollständig abgerufen – und einer 191 Millionen US-Dollar Zinsreservefazilität. Diese Kredite laufen am 28. Juli 2028 aus und sind mit SOFR + 3,50 % (Basiszinssatz + 2,50 %) verzinst. Die Brückenerlöse dienen der Rückzahlung früherer Finanzierungen aus Mai 2025 und der Finanzierung der erforderlichen Eigenkapitaleinlagen in CP2.
Alle Finanzierungen sind durch vorrangige Sicherheiten auf Projekt- und Holding-Gesellschaftsvermögen besichert, erlauben vorzeitige Rückzahlungen ohne Strafgebühren und enthalten Auflagen, die zusätzliche Schulden, Sicherheiten, Vermögensverkäufe und Dividenden einschränken. Venture Global LNG, Inc. stellte eine bedingte Eigenkapitalunterstützungsvereinbarung bereit, die durch die Verkäufe von Inbetriebnahme-Ladungen in Plaquemines finanziert wird.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2025
Commission File Number 001-37928
ChipMOS TECHNOLOGIES INC.
(Translation of Registrant’s Name Into English)
No. 1, R&D Rd. 1, Hsinchu Science Park
Hsinchu, Taiwan
Republic of China
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F ☒ Form 40-F ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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ChipMOS TECHNOLOGIES INC. |
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(Registrant) |
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Date: July 29, 2025 |
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By |
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/S/ S. J. Cheng |
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Name: |
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S. J. Cheng |
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Chairman & President |
Contacts:
In Taiwan Jesse Huang ChipMOS TECHNOLOGIES INC. +886-6-5052388 ext. 7715 IR@chipmos.com |
In the U.S. David Pasquale Global IR Partners +1-914-337-8801 dpasquale@globalirpartners.com |
ChipMOS SCHEDULES SECOND QUARTER 2025 FINANCIAL RESULTS CONFERENCE CALL
Hsinchu, Taiwan, July 29, 2025 - ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), today announced that it will report second quarter 2025 results and host a conference call after the close of trading on the Taiwan Stock Exchange on Tuesday, August 12, 2025.
Investors and analysts are encouraged to participate using the dial-in phone number noted below. A webcast and replay will be available on the Company’s website.
Date: Tuesday, August 12, 2025
Time: 3:00PM Taiwan (3:00AM New York)
Dial-In: +886-2-3396 1191
Password: 3300012 #
Webcast and Replay: https://www.chipmos.com/chinese/ir/info2.aspx
Replay: Starts Approximately 2 hours after the live call ends
Language: Mandarin
Note: A transcript will be provided on the Company’s website in English following the conference call to help ensure transparency, and to facilitate a better understanding of the Company’s financial results and operating environment.
About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS) (www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide.
Forward-Looking Statements:
This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategies, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding tariffs and the imposition of potential new tariffs that affect our products or operations, government policies, global trade environments, pricing, plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) and in the Company’s other filings with the SEC.
FAQ
How much debt did Venture Global (VG) raise in the July 2025 8-K?
What are the interest rates on the new CP2 project loans?
When do the new facilities mature?
Can Venture Global repay the loans early?
What collateral secures the facilities?
Is there equity support for the bridge loans?
