New Fortress Energy Announces Closing of $856 Million Term Loan

Rhea-AI Summary

New Fortress Energy Inc. (NASDAQ: NFE) has closed its $856 million senior secured term loan credit facility due 2028. The loan will bear interest at SOFR + 5.00% per annum and includes a prepayment option. The company plans to use the net proceeds from the offering, along with cash on hand, to invest in projects and repay its existing bridge facility.

NEW YORK--(BUSINESS WIRE)-- New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced the closing of its $856 million aggregate principal amount of a senior secured term loan credit facility due 2028 (the “Term Loan”). The Term Loan will bear interest at SOFR + 5.00% per annum and will include a prepayment option. The Company intends to use the net proceeds from the offering, together with cash on hand, to invest in projects and repay our existing bridge facility.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231030800137/en/

Investors

Chance Pipitone

ir@newfortressenergy.com

Media

press@newfortressenergy.com

Source: New Fortress Energy Inc.

FAQ

What is the name of the company?

The company is New Fortress Energy Inc.

What is the ticker symbol of the company?

The ticker symbol of the company is NFE.

What type of loan did the company close?

The company closed a senior secured term loan credit facility.

What is the principal amount of the loan?

The principal amount of the loan is $856 million.

What is the interest rate on the loan?

The loan will bear interest at SOFR + 5.00% per annum.

What is the maturity date of the loan?

The loan is due in 2028.

What is the purpose of the loan proceeds?

The company plans to use the net proceeds from the offering, along with cash on hand, to invest in projects and repay its existing bridge facility.