secwatch.observer — SEC 8-K summary
======================================

Issuer:     New Fortress Energy Inc. (NFE)
CIK:        0001749723
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001749723-24-000064
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1749723/000174972324000064/0001749723-24-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1749723/000174972324000064/nfe-20240719.htm
  HTML page:      https://secwatch.observer/filing/0001749723-24-000064

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer