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Stonepeak has raised approximately $2.5 billion through a private bond issuance to refinance construction-related debt tied to its investment in an LNG export terminal in Calcasieu Parish, Bloomberg reports.
The transaction was completed via Stonepeak Wallaby I Acquiror LP, a holding company linked to Stonepeak that supports the under-construction project called Louisiana LNG. The bonds were sold in a true private placement, with financial services firms Mizuho Financial Group and RBC acting as arrangers.
The proceeds from the bond sale are being used to refinance an earlier loan that helped fund the development of the LNG production and export facility.
Stonepeak’s involvement in the project deepened in April 2025, when it agreed to acquire a 40% ownership stake in the facility from Woodside Energy Group Ltd. Woodside, an Australian energy company, is leading development of the project, which represents its first LNG export venture outside of Australia.
Construction on the terminal began in 2022, and the facility is expected to begin delivering its first LNG cargo in 2029. Once fully operational, the project is projected to contribute around 5% of global LNG production capacity in the 2030s, highlighting its global significance in the energy market.
The deal also reflects a broader trend in infrastructure and energy finance, where large-scale LNG projects increasingly rely on private credit markets for customized financing solutions. Industry analysts note that these projects often require billions in capital and long development timelines, making private placements an attractive alternative to more standardized public debt markets.
