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News

New Fortress Energy Signs Restructuring Support Agreement
New York-based New Fortress Energy (NASDAQ: NFE) has signed a Restructuring Support Agreement with its creditors as part of what is expected to be one of the largest ever consensual UK Restructuring Plans. 

The deal will split the US energy company into two separate entities: "BrazilCo", a privately held company comprising NFE's Brazilian operations, to be owned by creditors; and "New NFE", a publicly traded LNG-to-power business retaining all other assets. 

Creditors will exchange their debt for a combination of new debt, preferred equity, and common shares, reducing New NFE's corporate debt considerably from around $5.7 billion to approximately $527.5 million. Existing shareholders will be diluted to 35% of common equity. The UK Restructuring Plan process is set to launch in April 2026, with the transaction expected to close by Q3 2026.

Read more at Business Wire
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