New Fortress Energy talks $1.5 billion 5.5-year secured notes to yield 6¼%-6½%; pricing Friday

By Paul A. Harris

Portland, Ore., March 26 – New Fortress Energy Inc. talked its $1.5 billion offering of 5.5-year senior secured notes (B1//BB-) to yield 6¼% to 6½%, according to market sources.

Official talk comes tight to earlier guidance in the 6½% area.

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

Left lead bookrunner Morgan Stanley & Co. LLC will bill and deliver. Goldman Sachs & Co. LLC is the joint bookrunner.

The notes come with two years of call protection.

The New York-based energy infrastructure company plans to use the proceeds to fund the cash consideration of the acquisition of Golar LNG Partners LP, with any remaining proceeds to be used for general corporate purposes, including investments in developing projects.

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