New Fortress Energy Reaches Restructuring Agreement with Creditors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 15 hours ago
0mins
Should l Buy NFE?
New Fortress Energy previously announced on March 17 that it entered into a Restructuring Support Agreement with its creditors as part of a consensual UK Restructuring Plan. NFE has received strong indications of support for the previously announced transaction, to be implemented through a UK RP, from its stakeholders, including holders and lenders representing over 95% of its approximately $5.8B principal amount of NFE's aggregate indebtedness, including, approximately: 93% of holders of the 2026 Legacy Notes; 87% of holders of the 2029 Legacy Notes; 98% of holders of the 2029 New Notes; 100% of lenders of the Term Loan A; 88% of lenders of the Term Loan B; and 100% of lenders of the Revolving Credit Facility. To ensure all holders who intend to accede to the RSA have ample time to submit directions via their custodians, the Company is announcing the extension of the deadline for creditors to accede to the RSA and, provided certain conditions are met, be eligible for an early consent fee, to 5:00pm, New York City time, on April 8, 2026. As previously announced, the Company expects to launch the UK RP process in April and the transaction is expected to be completed by the third quarter of 2026, subject to court availability, customary conditions and regulatory approvals. This expected timeline is on track and remains unchanged.
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Analyst Views on NFE
Wall Street analysts forecast NFE stock price to rise
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 0.590
Low
1.00
Averages
1.00
High
1.00
Current: 0.590
Low
1.00
Averages
1.00
High
1.00
About NFE
New Fortress Energy Inc. is a global energy infrastructure company. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to deliver turnkey energy solutions to global markets. Its segments include Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment includes the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, facilities and conversion or development of natural gas-fired power generation. The Company sources LNG from long-term supply agreements with third-party suppliers. The Terminals and Infrastructure segment includes all terminal operations in Puerto Rico, Mexico and Brazil, as well as vessels utilized in its terminal or logistics operations. The Ships segment includes certain vessels which are chartered under long-term arrangements to third parties and are part of the Energos Formation Transaction.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
New Fortress Energy Secures Over 95% Lender Support
- Restructuring Support Agreement: New Fortress Energy announced a Restructuring Support Agreement with creditors, achieving over 95% support from lenders representing approximately $5.8 billion in debt, indicating strong market confidence and creditor recognition of the company's future potential.
- Support Across Debt Classes: Specifically, 93% of 2026 Legacy Note holders, 87% of 2029 Legacy Note holders, and 98% of 2029 New Note holders have shown support, demonstrating broad backing across various debt categories, which enhances the feasibility of the restructuring plan.
- Clear Restructuring Timeline: The company expects to launch the UK Restructuring Plan in April 2026, with the transaction anticipated to be completed by the third quarter of 2026, ensuring transparency and confidence among creditors and investors regarding the restructuring process.
- Deadline Extension for Creditors: To allow all creditors ample time to submit directions, the company has extended the deadline for creditors to accede to the RSA to April 8, 2026, aiming to increase participation and ensure a smooth restructuring process.
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- Investor Sentiment Impact: The decline in energy stocks, driven by expectations of a global economic slowdown, could affect the financing capabilities and shareholder returns of related companies, thereby impacting overall market performance.
- Increased Sector Volatility: The drop in the energy sector may prompt investors to reassess other related industries, particularly in the context of fluctuating oil and gas prices, potentially leading to a shift of funds towards more stable investment areas.
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- National Security Considerations: The Department of the Interior highlighted that, in light of national security concerns, TotalEnergies has pledged not to develop any new offshore wind projects, reflecting the current global energy supply challenges.
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- Capital Structure Adjustment: Post-restructuring, the new company's capital structure targets a leverage profile of 2-3x EBITDA, featuring a five-year term loan and $2.5 billion of preferred equity that will mandatorily convert to common stock at maturity, ensuring creditors gain a substantial equity position.
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- Growth Project Advancements: New Fortress Energy will continue to advance several growth initiatives, including the completion of the Nicaragua terminal and conversion projects in Puerto Rico, which are expected to enhance the company's long-term supply capabilities and cash flows, thereby strengthening its competitive position in the market.
See More
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- Restructuring Support Agreement: New Fortress Energy announced a Restructuring Support Agreement with creditors, achieving over 95% support from lenders representing approximately $5.8 billion in debt, indicating strong market confidence and creditor recognition of the company's future potential.
- Support Across Debt Classes: Specifically, 93% of 2026 Legacy Note holders, 87% of 2029 Legacy Note holders, and 98% of 2029 New Note holders have shown support, demonstrating broad backing across various debt categories, which enhances the feasibility of the restructuring plan.
- Clear Restructuring Timeline: The company expects to launch the UK Restructuring Plan in April 2026, with the transaction anticipated to be completed by the third quarter of 2026, ensuring transparency and confidence among creditors and investors regarding the restructuring process.
- Deadline Extension for Creditors: To allow all creditors ample time to submit directions, the company has extended the deadline for creditors to accede to the RSA to April 8, 2026, aiming to increase participation and ensure a smooth restructuring process.
See More
Energy Stocks Decline as NYSE Energy Sector Index Falls 1.9%
- Market Weakness: Energy stocks were lower on Tuesday afternoon, with the NYSE Energy Sector Index dropping 1.9%, indicating market concerns over energy demand prospects, which may lead to decreased investor confidence.
- Investor Sentiment Impact: The decline in energy stocks, driven by expectations of a global economic slowdown, could affect the financing capabilities and shareholder returns of related companies, thereby impacting overall market performance.
- Increased Sector Volatility: The drop in the energy sector may prompt investors to reassess other related industries, particularly in the context of fluctuating oil and gas prices, potentially leading to a shift of funds towards more stable investment areas.
- Uncertain Future Outlook: As concerns over energy demand intensify, investors may adopt a more cautious approach, resulting in further volatility in energy stocks in the short term, which could affect the formulation of long-term investment strategies.
See More
NEW FORTRESS ENERGY INC - FOURTEENTH AMENDMENT RELIEVES SOME CURRENT DEFAULT EVENTS - SEC FILING
New Amendment Overview: The Fourteenth Amendment has been introduced to waive certain existing events related to default-sec filing.
Impact on Default Events: This amendment aims to address and potentially alleviate the consequences of specific default events in the context of securities filings.
See More
Goldman Sachs Predicts LNG Market Disruption Through 2027
- Market Disruption: Goldman Sachs anticipates that the liquefied natural gas (LNG) market will remain disrupted through 2027 due to the U.S.-Iran war, with Qatar's LNG export capacity reduced by 17% from Iranian attacks, impacting about 3% of global LNG supply.
- Earnings Upgrade: Goldman raised Venture Global's EBITDA estimates for 2026 through 2028 by 62% on average, maintaining a buy rating with a price target of $18.50, indicating a 17% upside from Monday's close, reflecting the company's strong leverage to rising global gas prices.
- Investment Potential: Cheniere Energy is also favored by Goldman, receiving a buy rating and a price target of $312, suggesting nearly a 9% gain from Monday's close, as its capital allocation strategy positions it well for significant stock buybacks in Q3 and Q4 of 2025.
- Risk Factors: Despite the upward revisions in earnings estimates across the LNG sector, Goldman cautions that significant commodity price volatility and uncertainty in energy markets pose risks to the growth outlook for Venture Global, Cheniere Energy, and Golar LNG.
See More
U.S. Government Reaches $1 Billion Deal with TotalEnergies
- Agreement Details: The U.S. government has agreed to pay TotalEnergies $1 billion to shelve offshore wind projects on the East Coast, redirecting funds towards U.S. LNG production, indicating a reassessment of renewable energy initiatives by the administration.
- Investment Redirection: TotalEnergies has committed to invest approximately $1 billion in oil and gas and LNG production in the U.S., particularly focusing on developing four trains at the Rio Grande LNG plant in Texas, aimed at enhancing U.S. energy security.
- National Security Considerations: The Department of the Interior highlighted that, in light of national security concerns, TotalEnergies has pledged not to develop any new offshore wind projects, reflecting the current global energy supply challenges.
- Policy Support: TotalEnergies' CEO stated that this agreement will support U.S. gas production and exports, expected to provide much-needed LNG to Europe while also supplying gas for U.S. data center development, showcasing improved capital efficiency.
See More
New Fortress Energy Unveils UK-Led Restructuring Plan to Cut Debt and Spin Off Brazil Operations
- Restructuring Overview: New Fortress Energy is pursuing a UK restructuring plan aimed at reducing corporate debt from approximately $5.7 billion to about $527 million, with existing shareholders retaining a 35% stake in the new entity, expected to be completed by mid-2026.
- Capital Structure Adjustment: Post-restructuring, the new company's capital structure targets a leverage profile of 2-3x EBITDA, featuring a five-year term loan and $2.5 billion of preferred equity that will mandatorily convert to common stock at maturity, ensuring creditors gain a substantial equity position.
- Cost Reduction Initiatives: The company anticipates cutting operating and SG&A expenses to around $100 million for 2026, alongside achieving approximately $616 million in balance sheet and vessel liability relief, with an expected adjusted EBITDA exceeding $400 million for 2027.
- Growth Project Advancements: New Fortress Energy will continue to advance several growth initiatives, including the completion of the Nicaragua terminal and conversion projects in Puerto Rico, which are expected to enhance the company's long-term supply capabilities and cash flows, thereby strengthening its competitive position in the market.
See More
