New Fortress Energy Inc. (NASDAQ:NFE) ("NFE" or the "Company") is pleased to announce the completion of the first step of the Company's $2.7 billion issuance of new senior secured notes due 2029 (the "Transaction").
The Transaction will be completed in two steps; the first step completed was the funding of $1.2 billion new senior secured notes. The second step will be an issuance and private exchange of $1.5 billion new senior secured notes expected to close during the first week of December for a total of $2.7 billion new notes issued that mature in November 2029.
As a result of the Transaction, the Company will achieve three key objectives:
- Refinancing $2.4 billion of our existing bonds, including all bonds maturing in 2025 and more than two-thirds of our outstanding bonds maturing in 2026 and 2029
- Extending the maturity of $900 million of the Company's $1 billion Revolving Credit Facility to October 2027 (effective once the second step of the transaction is completed)
- Raising approximately $325 million in gross proceeds to provide additional liquidity for the Company
