Business Wire·May 12, 2026, 9:00 AM ET

New Fortress Energy Announces Commitments for $885 Million Senior Secured Notes Offering by NFE Brazil Financing Limited

NFE

New Fortress Energy Inc. (NFE) announced that its subsidiary NFE Brazil Financing Limited secured commitments for an $885 million offering of senior secured notes due in 2029.
The notes carry a 12.00% annual interest rate payable in kind semi-annually on May 15 and November 15, maturing three years from the issue date.
The notes include no call protection or financial covenants, but offer a commitment premium payable in kind to Existing 2029 Noteholders who commit by May 18, 2026.
Issuance is subject to customary conditions but is not contingent on the consummation of the Restructuring Support Agreement dated March 17, 2026.
Net proceeds will be allocated to approximately $368 million for operations & capital expenditures, $52 million to refinance the Brazil Bridge Term Loan, $420 million to refinance existing Brazil Financing Notes, & $45 million for UK RP cash reserves.
The notes are secured by first priority liens similar to existing Brazil Financing Notes, with no credit support provided by NFE or NFE Brazil Funding LP.
The notes are convertible or exchangeable into debt &/or equity of NFE Brazil upon approval by the new BrazilCo board, 66.67% of note holders, & NFE Brazil.
Parties will cooperate to list the notes on a recognized UK stock exchange to satisfy Section 987 of the Income Tax Act 2007.
The offering runs parallel to a broader NFE recapitalization (UK RP) expected to close in Q3 2026, separating Brazil operations into an independent LNG & power generation platform owned by institutional investors.