M&A
confidence high
sentiment positive
materiality 0.90
Excelerate closes $1.055B acquisition of New Fortress Energy's Jamaica LNG and power assets
Excelerate Energy, Inc.
- Acquired Montego Bay LNG Terminal, Old Harbour LNG Terminal, and Clarendon CHP plant for $1.055B cash.
- Funded via $212M equity (8M shares at $26.50) and $800M 8.000% senior notes due 2030.
- Revolver capacity increased to $500M, maturity extended to 2029; existing term loan repaid.
- CEO Kobos says deal enhances financial outlook with stable, long-term cash flows and predictable margins.