secwatch.observer — SEC 8-K summary
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Issuer:     New Fortress Energy Inc. (NFE)
CIK:        0001749723
Form:       8-K
Filed at:   2025-05-12T23:59:59+00:00
Accession:  0001749723-25-000057
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

New Fortress Energy amends credit agreements ahead of Jamaican asset sale; raises rates, adds covenants
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- Twelfth Amendment waives 75% asset sale prepay rule; allows $270M of sale proceeds to extend RCF tranche due Sept 30, 2025.
- Fifth Amendment raises TLA margins to 6.70% (SOFR) and 5.70% (base), adds SOFR floor of 4.30%, base floor of 5.30%.
- New fixed charge coverage ratio covenant: 0.80x for Q1 2025, 1.00x thereafter; consolidated first lien debt ratio not to exceed 8.75x Q1 2025, stepping down.
- Covenant holiday for Q2 2025 for debt ratio and fixed charge coverage in both RCF and ULCA.
- Amendments cap cash use for repurchasing senior secured notes due 2026 except via specified refinancing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1749723/000174972325000057/0001749723-25-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1749723/000174972325000057/nfe-20250512.htm
  HTML page:      https://secwatch.observer/filing/0001749723-25-000057

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