New Fortress Energy talks $800 million five-year notes at 6 7/8% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., Aug. 19 – New Fortress Energy Inc. talked its $800 million offering of five-year senior secured notes (B1/B+) to yield in the 6 7/8% area, according to market sources.

Official talk comes at the tight end of initial guidance in the 7% area.

Books close at 1 p.m. ET on Wednesday, and the Rule 144A and Regulation S for life deal is set to price thereafter.

Morgan Stanley & Co. LLC is the bookrunner.

The notes become callable after two years at par plus 50% of the coupon.

The New York-based energy infrastructure company plans to use the proceeds to pay off the $800 million outstanding under its credit agreement, with the remainder, if any, to be used for general corporate purposes, including financing operations.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.