New Fortress Energy Announces Upsizing and Pricing of $750 Million of Senior Secured Notes
06 March 2024 - 9:50AM
Business Wire
New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced
today the pricing of its previously announced private offering of
$750 million aggregate principal amount of senior secured notes due
2029 (the “Notes”). The aggregate principal amount represents an
increase in the size of the offering of $250 million from the
previously announced offering of $500 million. The Notes will bear
interest at 8.750% per annum and will be issued at an issue price
equal to 100% of principal, plus accrued interest, if any, from
March 8, 2024. The closing of the offering is subject to certain
limited conditions.
Subject to certain exceptions and thresholds, the Notes will be
guaranteed on a senior secured basis by each domestic subsidiary
and foreign subsidiary that is a wholly-owned restricted subsidiary
of the Company that is a guarantor under its existing senior
secured notes. The Notes will be secured by substantially the same
collateral as the Company’s existing first lien obligations under
its existing senior secured notes.
The Company intends to use the net proceeds from the offering to
repay a portion of its outstanding indebtedness, including to
repurchase up to $375 million of the Company’s existing senior
secured notes due 2025 pursuant to its tender offer announced on
March 5, 2024, together with any fees and related expenses, and/or
for general corporate purposes.
The Notes and the guarantees thereof were offered in the United
States to qualified institutional buyers under Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”), and to
persons outside of the United States under Regulation S under the
Securities Act. The Notes and the guarantees thereof will not be
registered under the Securities Act or any state securities laws,
and, unless so registered, may not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About New Fortress Energy Inc.
New Fortress Energy Inc. (Nasdaq: NFE) is a global energy
infrastructure company founded to help 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.
Cautionary Language Regarding Forward-Looking
Statements
This press release contains certain statements and information
that may constitute “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995, including
but not limited to statements regarding the consummation of the
offering or the Company’s anticipated use of the net proceeds from
the offering. All statements contained in this press release other
than historical information are forward-looking statements that
involve known and unknown risks and relate to future events, our
future financial performance or our projected business results. You
can identify these forward-looking statements by the use of
forward-looking words such as “expects,” “may,” “will,” “can,”
“could,” “should,” “predicts,” “intends,” “plans,” “estimates,”
“anticipates,” “believes,” “schedules,” “progress,” “targets,”
“budgets,” “outlook,” “trends,” “forecasts,” “projects,”
“guidance,” “focus,” “on track,” “goals,” “objectives,”
“strategies,” “opportunities,” “poised,” or the negative version of
those words or other comparable words. Such forward-looking
statements are necessarily estimates based upon current information
and involve a number of risks, uncertainties and other factors,
many of which are outside of the Company’s control. Actual results
or events may differ materially from the results anticipated in
these forward-looking statements.
Any forward-looking statement speaks only as of the date on
which it is made, and we undertake no duty to update or revise any
forward-looking statements, even though our situation may change in
the future or we may become aware of new or updated information
relating to such forward-looking statements. New factors emerge
from time to time, and it is not possible for the Company to
predict all such factors. When considering these forward-looking
statements, you should keep in mind the risk factors and other
cautionary statements included in New Fortress Energy Inc.’s annual
and quarterly reports filed with the Securities and Exchange
Commission, which could cause its actual results to differ
materially from those contained in any forward-looking
statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20240305172562/en/
Investor Relations: Chance
Pipitone ir@newfortressenergy.com
Media Relations: Ben Porritt
press@newfortressenergy.com (516) 268-7403
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