New Fortress Energy to price $500 million notes on Tuesday; initial talk high-8% to low-9% area

By Paul A. Harris

Portland, Ore., March 4 – New Fortress Energy Inc. expects to price a $500 million offering of five-year senior secured notes (B1/BB/BB-) on Tuesday, according to market sources.

The deal, which was scheduled to kick off on a Monday morning conference call with investors, is in the market with initial guidance in the high-8% to low-9% area.

The Rule 144A for life and Regulation S notes come with two years of call protection.

Morgan Stanley & Co. LLC, Santander US Capital Markets LLC, Natixis Securities Americas LLC, MUFG Securities Americas Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Mizuho Securities USA Inc., Goldman Sachs & Co. LLC, Barclays, Citigroup Global Markets Inc., Credit Agricole CIB, HSBC Securities (USA) Inc., SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC are the joint bookrunners.

BTIG LLC, Evercore, John Rice & Co., Stifel Nicolaus & Co. Inc. and Tuohy Bros. are the co-managers.

The New York-based integrated gas-to-power company plans to use the proceeds to pay down debt and for general corporate purposes.

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