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New Fortress Energy offers to buy $250 million of 6¾% notes due 2025
Chicago, March 5 – New Fortress Energy Inc. started a cash tender offer on Tuesday for up to $250 million of its 6¾% senior secured notes due 2025 (Cusips: 644393AA8, U6422PAA6), according to a press release.
There is $1.25 billion outstanding.
The company is offering $1,005 per $1,000 note, inclusive of a $30 early tender payment only payable to holders who tender their notes by the early deadline. Interest will also be paid.
The offer is subject to a financing condition, namely the receipt of at least $500 million of proceeds from a new offering of senior secured notes.
Tenders may be prorated.
The early tender deadline is 5 p.m. ET on March 18, also the withdrawal deadline.
The tender offer expires at one minute after 5 p.m. ET on April 2.
Early settlement is expected on March 19. The final settlement date is on the calendar for April 3.
Morgan Stanley & Co. LLC is the sole dealer manager.
D.F. King & Co., Inc. is the information and tender agent for the offer (800 821-8781, nfe@dfking.com).
New Fortress is a New York-based integrated gas-to-power company.
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