New Fortress Energy enters $700M secured term loan for Altamira FLNG project

New Fortress Energy Inc.

$700M multiple-draw term loan with Morgan Stanley; proceeds fund onshore FLNG project in Altamira, Mexico.
Initial funding conditioned on first LNG from offshore FLNG1 facility, which was achieved.
Interest at Term SOFR + 3.75% (or base rate + 2.75%), increasing 0.25% every 180 days from June 20, 2025.
Loan matures July 19, 2027; accelerates if 2025 or 2026 notes not refinanced 60 days before maturity.
Financial covenants: Debt to Capitalization ≤0.7:1.0; Debt/EBITDA ≤4.0:1.0 if revolving facility >50% drawn.

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