New Fortress gets up to $725 million three-year term loan

By Wendy Van Sickle

Columbus, Ohio, Sept. 21 – New Fortress Energy Inc. executed a term loan facility secured by eight company vessels, according to a news release.

The company made an initial borrowing of $430 million and can borrow up to $725 million under the three-year facility.

The facility is prepayable at any time without penalty.

Borrowings will bear interest at Libor plus 300 basis points with a 0% Libor floor.

Proceeds of the shipping facility will be used to fund the development and construction of the company’s energy infrastructure projects around the world.

New Fortress Energy is a New York-based energy infrastructure company.

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