New Fortress Energy Closes $856 Million Loan Credit Facility

Global energy infrastructure company New Fortress Energy Inc. announced the closing of its $856 million aggregate principal amount of a senior secured term loan credit facility due in 2028, according to an Oct. 30 release.

Together with cash on hand, the New York-based company will use the net proceeds to invest in projects and repay its existing bridge facility, the company said in a release.

The term loan will bear interest at secured overnight financing rate + 5% per annum and will include a prepayment option, the release added.

The release did not give details on projects.

New Fortress Energy owns and operates natural gas and liquefied natural gas infrastructure and an integrated fleet of ships.