New Fortress Energy Inc. announced 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.