Loan & DebtMay 12, 2026, 09:22 AM
New Fortress Energy Brazil Subsidiary Secures $885M Senior Notes
AI Summary
New Fortress Energy Inc.'s subsidiary, NFE Brazil Financing Limited, has received commitments for a proposed offering of $885 million in senior secured notes due 2029, bearing 12.00% interest. The proceeds will be used to fund operations, capital expenditures, and refinance approximately $472 million of existing debt. This financing is being contemplated in parallel with a broader recapitalization of New Fortress Energy, which involves separating its Brazil operations to be owned by a consortium of investors, with an expected close by the third quarter of 2026.
Key Highlights
- NFE Brazil Financing Limited secured commitments for $885 million aggregate principal amount of senior secured notes due 2029.
- The notes will bear interest at a rate of 12.00% per annum, payable in kind semi-annually.
- Approximately $368 million of proceeds are for operations, capital expenditures, working capital, and trade payables.
- Approximately $52 million will refinance the existing Brazil Bridge Term Loan.
- Approximately $420 million will refinance certain existing Brazil Financing Notes.
- Approximately $45 million is allocated to cash reserves in connection with the UK RP.
- The offering is part of a broader recapitalization to separate Brazil operations from NFE by Q3 2026.