Press release
New Fortress Energy Inc. Announces Increase to Previously Announced Cash Tender Offer for its 6.750% Senior Secured Notes due 2025
NEW YORK--(BUSINESS WIRE)-- New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) previously announced the commencement of a tender offer (the “Tender
About this update from New Fortress Energy Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nNew Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) previously announced the commencement of a tender offer (the “Tender Offer”) to purchase for cash up to $250,000,000 in aggregate principal amount of its outstanding 6.750% Senior Secured Notes due 2025 (the “Notes”). The Company hereby amends the Tender Offer to purchase for cash up to $375,000,000 in aggregate principal amount of the Notes (as such aggregate principal amount may be increased or decreased by the Company, the “Aggregate Maximum Principal Amount”).\n\n\nThe Tender Offer is subject to customary conditions, including, among others, that the Company receive gross proceeds of at least $750,000,000 from a debt financing on terms and conditions acceptable to the Company. On March 5, 2024, the Company priced and upsized an offering of $750,000,000 in aggregate principal amount of 8.75% senior secured notes due 2029, which offering is expected to close on March 8, 2024, subject to customary conditions (the “Debt Financing”). Upon the successful completion of such Debt Financing, together with any and all other conditions of the Tender Offer, the Company intends to use a portion of the proceeds from such Debt Financing (net of transaction fees and expenses) to finance the Company’s purchase of Notes pursuant to the Tender Offer. The Tender Offer is being made pursuant to an Offer to Purchase, dated March 5, 2024, as amended by the terms set forth herein (the “Offer to Purchase”). Capitalized terms used but not defined herein have the meaning given to them in the Offer to Purchase.\n\n\nThe following table sets forth the Tender Offer Consideration, the Early Tender Payment and the Total Consideration (each, as defined herein) for the Tender Offer:\n\n\n\n\nTitle of Note\n\n\n\n\n\n\n\nCUSIP /ISIN\n\n\n\n\n(144A)(1)\n\n\n\n\n\n\n\nCUSIP /ISIN\n\n\n\n\n(Reg S)(1)\n\n\n\n\n\n\n\nPrincipal\n\n\n\n\nAmount\n\n\n\n\nOutstanding\n\n\n\n\n\n\n\nAggregate\n\n\n\n\nMaximum\n\n\n\n\nPrincipal Amount\n\n\n\n\n\n\n\nTender Offer\n\n\n\n\nConsideration\n\n\n\n\n(2)(3)\n\n\n\n\n\n\n\nEarly\n\n\n\n\nTender\n\n\n\n\nPayment\n\n\n\n\n(3)(4)\n\n\n\n\n\n\n\nTotal\n\n\n\n\nConsideration\n\n\n\n\n(3)(5)\n\n\n\n\n\n\n\n\n6.750% Senior\n\n\n\n\nSecured Notes\n\n\n\n\ndue 2025\n\n\n\n\n\n\n\n644393 AA8 /\n\n\n\n\nUS644393AA81\n\n\n\n\n\n\n\nU6422PAA6 /\n\n\n\n\nUS...