AmericasCorporate

New Fortress plans to raise $1.5 billion to fund Golar deal

By LNG Prime Staff
New Fortress raising $1.5 billion to fund Golar deal
Image: New Fortress Energy

Wes Edens-led New Fortress Energy plans to raise $1.5 billion via a private offering in order to fund a part of its previously announced deal to buy two Golar units.

The US firm said on Tuesday it intends to offer $1.5 billion in principal amount of senior secured notes due September 2026, subject to market and other conditions.

NFE said it would use a portion of the net proceeds from this offering to fund the cash consideration for its acquisition of Golar LNG Partners and pay related fees and expenses.

In addition, the firm aims to use any remaining proceeds from this offering for general corporate purposes, including making investments in developing projects.

NFE has this year announced several developments as it looks to build up its LNG business.

Besides the $5 billion Golar deal, NFE recently also revealed a plan to build a floating liquefaction unit.

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